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TOPIC: how to add an Upgrade to an Asset

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#1357

dave (User)

Expert Boarder

Posts: 109

how to add an Upgrade to an Asset 13 Years, 5 Months ago

Hi Hasan:

I got 2 scenarios to TEST in FA. Can you please advice what steps do i need to follow to test these in FA

Scenario 1
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Asset 3846 has a useful life of 4200 days. Additionally, an upgrade for $100,000 was added to this component. The asset & upgrade continue to have the same life of 4200 days.

Scenario 2
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Asset 3825 has a useful life of 5000 days and only 500 days have been used. An upgrade is done to this asset for $200,000 that extends the life of the asset. Now the asset & upgrade have a new life of 5500 days.

Can you please advice the steps to test these 2 scenarios so that i can then run depreciation and create accounting process to verify the entries generated.

Thanks in advance
UQRC

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