Adjusting Replacement Cost

  1. From the Fixed Asset Inventory screen, select the Assets menu and then Adjust Replacement Cost.

  2. If a batch already exists, the Adjust Replacement Cost Batch Search screen will appear.  To continue adding adjustments to an existing batch, select the desired batch by double-clicking on the batch description; otherwise, to enter a new batch, click the New Record button and then complete the batch options.  If a batch does not exist, the batch options screen will appear immediately in order to create a new batch.

Steps to Complete Batch Options for Adjust Replacement Cost

  1. Click the New Record button.

Note:  For any field equipped with the repeat function, click the Repeat button or press the Ctrl+R keys to repeat the previous entry for the specified field.  The repeat function is only available after your initial entry.

  1. Enter the tag number of the asset for which to adjust the replacement cost in the Asset Tag field.  If the tag number is not known, click the down-arrow button to select the correct asset, or press the Ctrl+F keys to access the search feature.

Note:  Replacement cost adjustments can only be made to assets that have been posted to the Asset File Maintenance option and are not disposed (or included in a batch under the Process Asset Disposal option).

  1. If applicable, the most recent replacement cost (the amount of cash or other consideration that would be required today to obtain the same asset or its equivalent) for the asset displays in the Replacement Cost field.  The month and year in which the replacement cost was last calculated for the asset appears to the right of the label.  To see the detail entries for calculating the replacement cost of the asset, click the Show Details button located to the right of the field.  To change the replacement cost for the asset, enter the new amount to use as the replacement cost in the Replacement Cost field.  The replacement cost can be up to 14 digits long (including the decimal point and comma(s) if applicable) and will be rounded to 2 decimal places by the system if capable.

Note:  If the Processing Month for the replacement cost adjustment batch is prior to when the current replacement cost was most recently calculated, a warning icon will appear to the right of the Replacement Cost field and the field cannot be updated.

  1. Click the Save button.

  2. Once all the adjustments have been entered, print a listing and post the batch.

Steps to Print a Report

Steps to Post a Batch