The change fixed asset group function is commonly used to change the fixed asset group to another group, and consider that this function will not reclassify the asset from the accounting point of view. Changing the asset from group to another, it may use the same asset ID or rename it, and this does not generate any financial entries.
In order to change an asset group select an asset ID, and go to Maintain ribbon, and press Change fixed asset group
A dialog box opens to indicate the new group, and if you need to create new fixed asset number by renaming the old one. As shown in the below screen shot a dialog box opens indicate that rename the fixed asset.
There is another function to reclassify the asset group and considering the financial entries which known as Asset reclassification, this will be covered in another blog post.