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Learn all about adding and editing an asset in MYOB Practice

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Adding an asset

You can add different types of assets depending on the type of depreciation calculation.

If you are calculating depreciation for...	Asset types
Accounting & Taxation	General asset (Australia) Low-value pool asset (Australia) Small business pool asset
Taxation only
Accounting only	General asset Immediate deduction asset

UI Expand

title	To add an asset

Click Add asset in the top-right corner.
Enter the details.
Add a Prefix and Number to give your asset a code. The next time you add an asset to the same asset class, the code will be auto-generated (you're welcome!).
Click + Add more details to see other optional fields (location, serial number, insurer, premium due date, premium amount, and insured value).
Click Add asset.

Editing an asset

You can edit an asset that is:

created within the current year
rolled forward from a prior year.

You can only edit an immediate deductible asset in the current year. If you change an asset, depreciation may be re-calculated for the current year and subsequent years.

You can only make certain changes to an asset in its first year in the asset register. For example, you can only change the cost price in the first year. However, you can change private use % in any year because it may change from year to year.

You can only change the asset details section, depreciation rate 2+ year, and the private use % in subsequent years.While an asset is open for editing, you can't delete, move, transfer, or sell the asset. You also can't post journals when editing an asset for the given period.

UI Expand

title	To edit an asset

Click an asset row to expand the details, then make your changes.
UI Text Box
type note
See Glossary of terms for an asset for descriptions of each field.
Click Save.

Australia

New Zealand

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Versions Compared

Old Version 42

New Version 43

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Adding an asset

Editing an asset

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