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title: "Asset Maintenance Options"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31102406/Asset%20Maintenance%20Options"
format: markdown
---
This process explains how to  maintain Assets and perform actions such as Revalue, Scrap/Sell and Delete. Maintain Assets and perform actions such as Revalue, Scrap/Sell and Delete  To maintain Assets and perform actions such as Revalue, Scrap/Sell and Delete, perform the following: 1. From the  ProStix Main Menu  select ' General Ledger ' then ' Asset Register ', then ' Asset Table Maintenance' . 2.    If required, select the relevant company from the  'Select Company'  screen.   3. Search for, then select the required asset using any of the methods available from the 'Options' menu. Refer to the ' Asset Maintenance  Options' collapsible link for a screenshot and an explanation of some these options. 4. An 'Options' menu on the right hand side of the screen is displayed containing the following options: 5. Choose from any of the Options listed. Refer to the processes below for further information. Update Asset Master  6. Select the ' Update Asset ' option to maintain the following Asset Master details. Refer to the 'Asset  Master fields' collapsible link for a screenshot and an explanation of some these options.   Update Depreciation Detail  6. Select the ' Update Depn.  ' option to update the company and/or tax book depreciation details for the selected asset. Company Book depreciation details appears first. Before typing information into these fields, note the following: The method and rate of depreciation may differ between the company and the tax  books. Each code is assigned a 'Prime Cost' depreciation rate percentage and a 'Diminishing  Value' depreciation rate percentage. If there is no purchase price for an asset, the depreciation will be calculated using  the opening written down value. 7. Refer to the 'Company Depreciation fields' collapsible link for a screenshot and an explanation of some these options.