Creating a FM to Modify the Useful Life of a Fixed Assets

Process: 

This job aid describes the process for changing the Useful Life of an asset.

2. On the Financial Transaction page:  

• Enter Transaction Code.

• Enter Transaction Dept.

• Click Create. 

3. On the Create Transaction page confirm Transaction Code and Transaction Dept.

• Check the Auto Numbering box.

• Click the Continue button.

4. On the Fixed Modification (FM) page select the Header Tab.

• Select the General Information subsection.

• Enter the Fixed Asset Number.

• Expand 3 dot menu on the right side of the Attachments button.

• Select Auto Apply in the Related Actions Menu.

• Click the Save button.

5. In the General Information subsection. 

• Enter Transaction Name.

• Enter Transaction Description.

• Expand Show More caret and confirm Event Type is set to FA05.

• Click Save button.

6. On the Fixed Modification (FM) page select the Component tab.

• Click the Caret to expand the Fix Asset in the Grid.

• Select the Depreciation sub section.

• Enter appropriate Useful Life value in New Useful Life field. 

• Click Validate button.

• Click Submit button.