How-To: Update Useful Life of Fixed Assets in Dynamics NAV 2018

Meanwhile, i am working on a case with Client that need to update the Useful Life of Fixed Assets, as they want to Increase or Decrease the Number of Depreciation Years for all fixed assets.

First of All, You can update the Useful life of a certain fixed asset by Just change the No. of Depreciation Years field on fixed asset card.

But What if you run the depreciation on the fixed asset you have to take care of the following scenarios:

• You Purchase a Fixed Asset in 1/1/2018 with Acquisition Cost 100,000 EGP.
• No. Of Depreciation Years 5 Years Starting from 1/1/2018.
• Running Depreciation Annually.
• Running Depreciation Period for one Year is 31/12/2018, Depreciation = 20,000 EGP
• Book Value of Fixed Asset in 1/1/2019= 100,000 – 20,000 = 80,000 EGP

In case of 1: 

• Change the No. of Depreciation Years (Useful Life) to 2 Years.

Result of Depreciation: The asset will be fully depreciated for the Second Year only By 80,000 EGP.

In case of 2: 

• Change the No. of Depreciation Years (Useful Life) to 1 Years.

Result of Depreciation: The asset will not be depreciated as Useful Life 1 Year = Equal the Depreciated Period 2018.

In case of 3: 

• Change the No. of Depreciation Years (Useful Life) to 6 Years. (More than Depreciated Years)

Result of Depreciation: The asset will continue to be depreciated with book value 80,000 EGP for the remaining 5 Years (1 Year Depreciated + 5 Years to Be Depreciated = 6 Years).