Depreciation - Changing Depreciation Methods
Director of Fixed Assets Accounting
FA Plant Funds Manager
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.
N ® Assets ® Asset Workbench
B ® 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.
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