Editing a Vehicle Asset
How to update vehicle asset information after creation.
After a vehicle asset has been created, you can update its financial details, depreciation settings, commission rate, and attached documents. This guide explains how to make changes to an existing vehicle asset record.
How to Edit a Vehicle Asset
- Navigate to Finance > Vehicle Asset Management
- Click on the vehicle asset row in the list to open its detail page
- Click the "Edit" button
- Make your changes
- Click "Save" to apply the updates
Editable Fields
The following fields can be modified after the asset has been created:
Purchase Details
| Field | Description |
|---|---|
| Purchase Value (excl. VAT) | Update the purchase amount if it was entered incorrectly |
| VAT Percentage | Adjust the VAT rate. The VAT amount and total cost recalculate automatically |
| Dealer Company | Add or change the dealership name |
| Purchase Date | Correct or add the purchase date |
Funding Source
Change the funding source to reflect how the vehicle was actually financed (Cash, Bank Loan, Lease, or Other).
Depreciation Settings
| Field | Description |
|---|---|
| Depreciation Method | Switch between Straight Line, Declining Balance, or None |
| Useful Life (Years) | Adjust the expected service life |
| Residual Value | Update the estimated end-of-life value |
Changing depreciation settings will recalculate the annual, monthly, and daily depreciation amounts. This affects the profit/loss analysis shown in the asset detail view.
Commission Rate
Update the percentage of revenue shared with drivers operating this vehicle.
Documents
You can replace or add documents at any time:
| Document | Action |
|---|---|
| Purchase Invoice | Upload a new file to replace the existing one, or attach one if none was uploaded during creation |
| Registration Documents | Upload a new file to replace the existing one, or attach one if none was uploaded during creation |
To replace an existing document, simply upload a new file. The previous file will be replaced.
Fields That Cannot Be Changed
The vehicle assigned to an asset record cannot be changed after creation. If you need to track a different vehicle, create a new asset record for that vehicle instead.
Saving Changes
After making your updates, click "Save" to apply the changes. The system will:
- Recalculate any derived values (VAT amount, total purchase cost, depreciation figures)
- Update the asset detail page with the new information
- Reflect changes in the list view and expanded row data