Processing Replacement Cost

Note:  As a precaution, make a current backup before completing the Process Replacement Cost option.

1. From the Fixed Asset Inventory screen, select the Options menu and then Process Replacement Cost.

Note:  All batches within the Adjust Replacement Cost option must be posted in order to access the Process Replacement Cost option.

2. If a batch already exists, the Process Replacement Cost Batch Search screen will appear.  To continue calculating the replacement costs for the assets in the existing batch, select the batch by double-clicking on the batch description.  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 Process Replacement Cost

Note:  Only one batch can be created (open) at a time within the Process Replacement Cost option.  Also, a batch can only be created with a Processing Month that is in the same month or a later month than the most recent process replacement cost batch.

3. The Process Replacement Cost screen will appear listing all current assets in the Asset File Maintenance option that meet the following:  have not had the replacement cost calculated for the current year, are not included in an unposted batch within the Process Asset Disposal option, and have a Replacement Cost Change Factor that is not equal to zero.

4. Verify the new replacement costs on the screen for the assets, or print a listing to verify the information.

Steps to Print a Report

5. If any information needs to be changed, close this screen by clicking the Cancel button and then make the necessary changes in the Asset File Maintenance option or complete an adjustment in the Adjust Replacement Cost option for the desired asset.

6. Once all the information is correct, click the Execute button to calculate the new replacement costs; when prompted to continue, click Yes.

7. After the process is complete, a message will appear; click OK.