What happens when I make changes to the net asset classification on my FAS117-1 reports?

If net asset class is changed, it becomes retro-active. So on the FAS117-1 reports, the beginning balances would be what is affected. Then you run the Audit Log report to show why the beginning balances changed. You can then choose to export the FAS117-1 report and make changes manually, if you want. Example, put the beginning balances back and show the net asset class changes in the transfer column.