Adjusting mass assetsMass adjustments permit you to perform adjustments on a large number of assets at one time. You can mass adjust assets at any point after they have been capitalized and before they have been disposed. You can record a mass adjustment for values associated with assets or with specific books related to the assets. Regardless, LN records journal entries from the mass adjustment using the values in the assets' default general ledger books. Note The same restrictions that apply to asset adjustment apply to mass adjustment. For more information, see the topic. For each mass adjustment you enter, LN applies your changes to the assets and books that match your transaction criteria, and it records the former values of each asset for historical purposes. This allows you to perform an inquiry to view all the changes made to an asset and its related books throughout its life. You enter a date for each mass asset adjustment to determine when the change takes effect. Based on the values you adjust, LN can have to restate depreciation. For changes to owner code or business percentage, LN restates from the effective date. LN does not restate depreciation for changes to vintage/group account, auto or listed status, location, distribution, quantity, or ITC method. However, depending on the effective date, LN can make an adjusting entry. Note The effective date you enter cannot be prior to the assets in-service date. In addition to recording mass adjustments, there are two other types of adjustments you can make:
| |||