Reclassify

Reclassifies fixed asset entries. This can be useful if you need to transfer a fixed asset from one dimension value to another, combine several fixed assets into one fixed asset or split one fixed asset into several fixed assets.

First, you must fill in the reclassification journal with the information to be used when reclassifying (for example, the old fixed asset number, the new fixed asset number and the percentage to be reclassified).

Then if you click the Reclassify button, the program will transfer the entries to a fixed asset journal. If you have set up any allocations, the program will automatically insert balancing accounts with the specified allocation in the resulting journal. You can then adjust the entries as necessary before posting.