Is it possible to change the useful life of a fixed asset that’s been added from a bill?

change the useful life of a fixed asset – Free Online Small Business Accounting Software Questions & Answers

2 answers

Peter Connor Staff January 18, 2016
Public

Hi,
Are you talking about depreciation?
Cheers
Pete

#answer-2539
  1. info@smarteventservices.com January 18, 2016
    Yes - when I add a fixed asset from a bill it won't let me edit the useful life which calculates the deprecation charge. It defaults to 5 years.
Peter Connor Staff January 18, 2016
Public

Hi,
We use accounting defaults with our workflows. You can change the depreciation of an asset if you wish, by adding that asset using the manual journal entries. 
I’m afraid as we’re not accountants we can’t advise on how to do this. If you’re not familiar with Journal Entries we’d suggest you use an accountant to enter it for you.
Manual Journal Entries can be found in Accountant & Reports in the top navigation.
Hope that helps.
Pete 

#answer-2540

Please login or Register to Submit Answer