An existing asset's residual estimate can be changed through Future estimate changes. The workflow compares the proposed residual with current carrying value and preserves the original residual and earlier schedule history.
Review all earlier depreciation, then inspect the proposed effective month. Enter New residual value in the asset's currency along with the remaining useful life and prospective method. The residual must fall within the supported carrying value, and the proposal needs a specific reason.
Use the preview to assess the new future charge. Do not change the residual merely to make a desired monthly number appear without a supported estimate. If the carrying value is wrong because a prior journal is incorrect, investigate that source before preparing a future schedule.
After approval, confirm the latest estimate in the asset detail and retained estimate history. The decision changes the plan without posting an immediate entry. Review subsequent monthly depreciation through its normal journal process, and retain the reason so the difference between the original and current residual can be explained.
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