Now, we will cover the fixed asset reclassification functionality. This function is used to reclassify a fixed asset to another fixed asset from two perspectives; the first perspective is accounting, and the second perspective is the fixed asset group. The reclassification function incorporates changing the asset group by canceling the old one and creating a new fixed asset, and this will generate the necessary financial entries.
Let's assume that there is a fixed asset in an acquired status, and this asset should be reclassified to a new fixed asset ID. The main account, which represents the acquisition, will also be reclassified to another account. The execution of this process will close the original fixed ...
