When you move your data from your AE Assets, AMS or AO Classic software, you may want to check all your data has come through.
This task is about getting your assets register ready and aligned with last year's closing balances before you begin adding this year's transactions (covered in the next task).
As not all data is migrated, you may need to add a few things here and there such as any additional depreciable expenses and private use balance sheet account codes.
If you've migrated from AO Classic or AMS, make sure you check the depreciation method selected for each asset.
For AO Classic NZ users, straight-line depreciated assets with a residual value are migrated to the Accounting tab and may not appear in the Taxation tab.
Editing asset details
To edit an asset's details, simply select the asset and click Edit Asset on the TASKS bar.
You can also move the asset to another Control Group or Transfer the asset to a Small Business or Low Value pool on the TASKS bar.
You can edit any existing asset's details in the year it was created, other than the Asset Type.
In subsequent years, for general assets, you'll only be able to edit the Private Use % and Private Use balance sheet account, the depreciation calculation rate or effective life (see example in tabs below).
(AU) Once an asset has been pooled, in a subsequent years you won't be able to unpool or delete the asset.