Depreciation - Changing Depreciation Methods

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Distribution

Director of Fixed Assets Accounting

FA Administrator

FA Plant Funds Manager

FA Specialist

Related Procedures

None.

Ownership

The Director of Fixed Assets Accounting is responsible for ensuring that this document is necessary, that it reflects actual practice, and that it supports University policy.

IS Assets
N ® Assets ® Asset Workbench
B ® Books
Books

Books

1. In the Asset Workbench, find the asset for which you want to update financial information.

2. Click [Books].

3. Select the book to which the asset belongs.

4. Do not select "Amortize Adjustment." UVA does not amortize adjustments.

5. You can change the asset's life, date placed in service and cost. The cost should only be changed after consulting with the Property Accounting Manager. Accounting entries will be needed to adjust the GL costs and keep the GL in balance with Fixed Assets.

6. Save your work.

Effective: 08/16/04

Revision: 2

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