User Guide
Putting an Asset Back in Service
There are two ways to put an Asset back in service, depending on your requirements. In both cases, the Asset must have been put on Hold before it is put back into service. The two methods are the Reschedule Method and the Catch-Up Method.
The Reschedule Method:
This method extends the life of an asset by resuming the depreciation schedules that have been put on hold. The advantage of using this method is that it eliminates a large financial shock in a single depreciation period.
Steps for Rescheduling:
Navigate to the Asset that is on Hold and click on it
Click the Put Back in Service button towards the top right of the page.
Click Reschedule Depreciations.
You will see a pop-up message while the system is working. Please do not close it.
When the message “You can close the window now. Thank you.” appears, it is safe to close the window.
The Catch-Up Method:
With the help of this feature, you no longer need to extend the useful life of an Asset when that is not desired. Imagine an asset that you put on Hold because you had planned to extend its depreciation schedule, but now that it is time to bring it back, it is not worth extending its life. When bringing it back, you should recognize the depreciation that would have occurred while it was on hold.
Steps for Catching up:
Navigate to the Asset that is on Hold and click on it
Click the Put Back in Service button towards the top right of the page.
Click Catch Up Depreciations.
You will see a pop-up message while the system is working. Please do not close it.
When the message “You can close the window now. Thank you.” appears, it is safe to close the window.
