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Suggested answer

Adjusting the useful life of a fixed asset

Posted on by Microsoft Employee

Hi - 

While auditing our fixed asset listing, i noted that a few assets acquired earlier in 2017 had inaccurate useful lifespans.  I'd like to adjust the asset from, for example, a useful life of 70 periods to a useful life of 60 periods.  I know there needs to be a catch up to accumulated depreciation, but i was under the impression that proposing a depreciation journal, it would catch up automatically.  that wasn't the case.  is there anything i can do to catch up and adjust the 2017 depreciation as of  12/31/17?

thank you very much,


  • Suggested answer
    Daxer Persson Profile Picture
    Daxer Persson 3,005 on at
    RE: Adjusting the useful life of a fixed asset

    For those Fixed assets to be changed, make a reversal of last depreciation run (previous period). Then change period from 70 to 60 on the value model, and then once more run the depreciation for the previous month.

    Or as Ludwig says, make the period change now and wait for effect at next depreciation run.

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Adjusting the useful life of a fixed asset

    Hi DP,

    Can't you simply reduce the remaining periods from 70 to 60? Your net book value will then be divided and depreciated by the 60 periods?

    If you want to make adjustments to your previously recorded depreciation expense for the 10 periods missing (70 - 60 periods) then you would have to do that manually. However, this requires that your previous periods are open and it will consequently affect your previously reported monthly results. Not sure if you want to do that.

    An alternative would be to post the difference in the depreciation amount in the current month but this might put some cost burden in your current month that's why I would prefer spreading the difference amount over the next months.

    Best regards,


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