I need to make changes to an asset, when do I Edit vs. Amend.

While in Draft, all fields can be edited, but once activated, Asset.Guru locks the "financial" fields that make up the depreciation schedule from being edited. 🔒

This is because of the potential financial impact to journals and reports.

But we all know that sometimes a mistake can slip through and a change does need to happen to the "financial" fields, and for that... Amend! 🦸‍♀️ (see below for a related article with more details)

The following fields are designated as the "financial" fields that can be Amended:

• Purchase Price
• Purchase Date
• Asset Type
• Depreciation Method and Term/Rate (for both Accounting and Tax)
• Depreciation Start Date
• Current Written Down Value (Net Book Value) (for both Accounting and Tax)
• Current Written Down Value Date (Net Book Value Date) (for both Accounting and Tax)