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The Useful Life (Months) subcolumn shows the number of months the fixed asset was planned for usage with the Straight Line depreciation method used for the asset. The Remaining Useful Life (Months) subcolumn shows the difference between the number of months of useful life and the number of months the asset was planned to be depreciated after the current month if there were no changeshas been depreciated.
Use the Revised Useful Life (Months) subcolumn to change the number of months the fixed asset is being planned for usage if the Straight Line depreciation method is selected for the asset.
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A check box selected in the Depreciate column indicates that for this asset depreciation in the current month will be calculated using "old" parameters, that is, the parameters in effect before the current changeswill be depreciated after the change of its parameters.
The Expense GL Account column shows the default GL expense account selected for transactions with the fixed asset. If needed, you can assign another GL account from the Expenses section of COA.
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The Accumulated Depreciation column column shows the amount of depreciation accrued over periods of useful life since the start of depreciation.
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The Revised Depreciable Cost subcolumn shows the new depreciable cost calculated based on the values of Revised Gross Cost, Accumulated Depreciation, and Revised Salvage Value columns.
The Revaluation GL Account column is intended for a GL account to be used to register the gain or loss resulted from revaluing the asset cost.
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In the Transaction Content column, provide a brief explanation of these changes.