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Administrator Guide
Last Updated: 2026-07-10
Reclassify Assets

Reclassify Assets

You can reclassify the spend category for capital assets with posted depreciation that aren't:
  • Fully disposed.
  • Impaired.
  1. Select
    Business Asset
    Reclassify
     from the related actions menu of a business asset.
  2. As you complete the task, consider:
    Option Description
    Transaction Effective Date
    The date the reclassification occurs. Enter a date that's:
    • Within a ledger period.
    • Before the current date.
    • After the
      Last Transaction Date
      .
    Depreciation Adjustment Option
    Select how Workday determines when to start adjusting depreciation for the lifecycle event. See Concept: Depreciation Adjustment Options.
    Item
    Spend Category
    If the asset is an item, first change the item for the asset. The selected item automatically populates the spend category. You can select any spend category if the
    Item
     field is empty.
    You can change the
    Item
    ,
    Asset Class
    , and
    Asset Type
     without changing the spend category.
    Use worktags as keywords to more easily classify and find transactions. Configure the allowed worktag types on the
    Maintain Worktag Usage
     task. When you select a worktag type that has related worktags, Workday automatically populates transactions with the related worktag values.
    Asset Class
    The spend category configuration automatically populates the asset class when you change the spend category. You can override this value, but the value you select on the
    Maintain Asset Shares
     task will override any value entered here.
    Asset Type
    The spend category configuration automatically populates the asset type when you change the spend category. You can override this value, but the value you select on the
    Maintain Asset Shares
     task will override any value entered here.
    Useful Life
    Enter a
    Proposed Useful Life
     for the asset. You can enter a different useful life for each asset book. You can't change the useful life of fully depreciated assets in a book.
    Shares
    Displays the number of times you share the asset costs. Click the number to drill down and view line detail about the shared cost.
Workday debits the new spend category and credits the old spend category in the primary accounting book. When the depreciation for an asset has posted, Workday reverses the depreciation from the old category and posts the depreciation to the new category.
In the new spend category, Workday calculates depreciation from the depreciation start date of the reclassify event. Workday derives the depreciation start date from the transaction effective date and the depreciation convention. If you modified the useful life, Workday recalculates the depreciation based on the new value.