Thanks for dropping by, @ncromar.
If you have already depreciated tangible and intangible properties, you can use the Fixed Asset Manager (FAM). Then you can start the current running value for the asset so that the future depreciation will be set automatically.
For the detailed steps, you can refer to this article: Use Fixed Asset Manager in QuickBooks Desktop. It includes how to change or add the depreciation method for a fixed asset.
Also, I suggest consulting an accountant if you need help for guidance.
To review the terminologies, depreciation method, and predefined reports in FAM, reference this article: Manage fixed assets using Fixed Asset Manager.
Please feel free to leave a message to this post if you have more questions. I'm always here to help. Stay safe and well!
