The utility run from this screen should be especially helpful when you are initializing historical data in the Curr Depr Yr and Days/Pds Remaining fields in Asset Master records. These fields are especially prone to error due to misinterpretation of the system "rules" for this field and/or because of missing/inadequate historical data.
The relationship of initialization data in the Curr Depr Yr, Days/Pds Remaining, and Depr Start Date fields is critical to the accurate calculation of depreciation, as is the data in the Amt Taken Purchase YTD field. For new Asset Master records, the system will automatically compute the values in the Curr Depr Yr and Days/Pds Remaining fields, provided you have not entered data in these fields, when depreciation is computed for the first time, based on the date in the Depr Start Date field.
Three screens are available from the FA FY/Pd Settings menu, as follows:
Maintain FA Fiscal Years
Maintain FA Accounting Periods
Update FA FY/Pd Info from FA FY/Pd Info
The system uses data from these screens to compute depreciation expense for the current accounting period and for future accounting periods. The Verify/Update Depr Computation Data utility also uses data from these screens to compute values for the Curr Depr Yr and Days/Pds Remaining fields in the Asset Master records. (During the Fixed Assets posting process, however, data in the Posting Settings screen is always validated against FY/Pd/Subpd data in Costpoint General Ledger.)
Regardless of the basis for depreciation (Date of Purchase or Fiscal Year) linked with the depreciation methods used at your company, it is imperative that you add data to these screens during initialization before you compute depreciation for the first time and/or run this utility. (This step is required even if you use only Date of Purchase basis depreciation methods at your company.)
To assist you in entering the correct data in the Curr Depr Yr and Days/Pds Remaining fields in your Asset Master records, you can use this utility to verify the relationship of the Depr Start Date field to the Curr Depr Yr and Days/Pds Remaining fields. You can run this utility for any range of asset/item numbers, as well as for one or more books that can be selected individually. The utility produces a report, sorted by asset/item number and book, based on the depreciation start date. The report includes a side-by-side comparison of both the current values displayed in the Asset Master and the values that the system would have computed for the Curr Depr Yr and Days/Pds Remaining fields.
For additional information, please refer to the specific documentation for the Depr Start Date, Curr Depr Yr, and Days/Pds Remaining fields for the G/L Book Info subtask of the Maintain Asset Master Info screen.
Although you can print this report for all selected records, you can also print the report for exceptions only, which may make discrepancies easier to identify. After the report has printed, you can activate the option in this utility that applies the system-computed values to your Asset Master records. This process updates the existing data in the Curr Depr Yr and Days/Pds Remaining fields by replacing the existing data in these fields with the system-computed values.
If you do not apply the system-computed values, you may need to manually adjust some values in the Curr Depr Yr and Days/Pds Remaining fields and/or, in some cases, the Depr Start Date field, to ensure the accuracy of depreciation calculations.
This utility has been designed as a simple diagnostic tool. It has not been designed to perform as a sophisticated system program. Under normal circumstances, fully depreciated records will also print on this report, but you can exclude them by selecting the Exclude Fully Depreciated Assets checkbox during the verify/update process. You can also create Change History records in the Asset Audit Log, if desired.
You must print the Verify/Update Depr Computation Data Report before you can run the Update process. You can print the report for all selected records or for exceptions only. This report provides supporting detail to the Update process and should be retained as part of the system audit trail.
Either version of the report (all records or exceptions only) prints columns for the following data:
Asset Master Record Data
Asset No / Item No
Short Description
Book No
Depr Method Code
Depr Start Date
Curr Depr Yr
Days/Pds Remaining
Values Computed by system
Curr Depr Yr
Days/Pds Remaining
Although you must print the Verify/Update Depr Computation Data Report before you can run the Update process, you can also print the report without updating to provide an opportunity to review the data first. If you exit from the selection screen or change your selections, however, you must print the report again before you can run the Update process.
This utility is a companion to the existing Verify/Update Amt Taken Purchase YTD utility. Please refer to the specific documentation for this utility for more specific information.
You can run this optional utility to verify and/or update your data after you initialize your historical records and reconcile the Detail Asset Account and Accumulated Depreciation Account values with your General Ledger and before you compute depreciation for the first time.
After initialization, you may want to run this utility each period as part of your company's standard procedures, before you compute depreciation, to confirm that your period additions have been initialized correctly.
This report provides supporting detail to the Update process and should be retained as part of the system audit trail.
Use the fields in this group box to select asset/item numbers for the report. If you enter a specific asset number, you must also enter a corresponding item number before you can run the report and/or update process. Selecting the Exceptions Only radio button in the Print group box may modify which records from the selected asset/item number range are included in the report.
The default option for this field is "All." You can accept the displayed default range option, enter a valid range option, or select one from the drop-down box. Range options are "All," "One," "Range," "From Beginning," and "To End."
If you save the print parameters for this utility, the selected range option, as applicable, will be identified in the Query table in the Asset/Item Range column.
Enter the beginning asset/item number for the range or use Lookup to select one. Because this is a standard Lookup to the ASSET table, make your selections carefully so that you will retrieve/update the expected data.
If you select "All" or "From Beginning" in the Range Option field, these fields will be inactive.
If you save the print parameters for this utility, the selected From values, as applicable, will be stored in the Query table in the Asset No From and Item No From columns.
Enter the ending asset/item number for the range or use Lookup to select one. Because this is a standard Lookup to the ASSET table, make your selections carefully so that you will retrieve/update the expected data.
If you select "All," "One," or "To End" in the Range Option field, these fields will be inactive.
If you save the print parameters for this utility, the selected To values, as applicable, will be stored in the Query table in the Asset No To and Item No To columns.
In this group box, you can choose to print data for exception records only (records in which current Asset Master data is different from the system-computed data) or for all selected records.
Select this radio button, which is the default option, to print report data only for records that are exceptions. For this selection, the report prints only data in which the current values displayed in the Asset Master data are different from the values that the system would automatically have computed for the Curr Depr Yr and Days/Pds Remaining fields (based on the Depr Start Date field).
If you select this radio button and save the print parameters for this utility, "E" will be stored in the Print Flag column in the Query table.
Select this radio button to print report data for all records within the selected asset/item number range. Both exceptions and non-exceptions will print on the report.
If you select this radio button and save the print parameters for this utility, "A" will be stored in the Print Flag column in the Query table.
Use this group box to control whether or not you want the system to exclude fully-depreciated assets from the verify/update process and and/or to write the Asset Master record change data created during the update portion of this utility to the Asset Audit Log.
This checkbox is selected by default. To maximize the efficiency of the process and the readability of the report, you will want to leave this checkbox selected.
If you select this checkbox, the computation and update processes will not include fully depreciated assets. The system considers a book fully depreciated when the values in the Curr Depr Yr and the Days/Pds Remaining fields are both "0."
If you uncheck this checkbox, fully depreciated records will also print as exceptions in the report. If you have logically named your depreciation method codes, however, it should be easy to match your codes against depreciation start dates to eliminate these records from the valid exceptions.
If you do not select this checkbox because fully depreciated records will print as exceptions on the report, you may not want to apply all the system-computed values to your Asset Master records. In this event, you can use the system-generated report to guide you in making manual adjustments to values in the Curr Depr Yr, Days/Pds Remaining, and/or, in some cases, the Depr Start Date fields. If you have carefully reviewed the report and agree with the system-computed changes for assets that are not fully depreciated, there will be no harm in also updating the system-computed changes for fully depreciated assets.
This checkbox is unselected by default.
You should select this checkbox if you want the system to write the Asset Master record change data created during the update portion of this utility to the Asset Audit Log.
This utility changes Asset Master data in the Curr Depr Yr and Days/Pds Remaining fields. If you select this checkbox, the system can capture the asset/item number, the name of each changed field, the old data from before the change, the new data after the change, information on the user who performed the change, and the date and time of the change.
Once the change details have been captured, use the Asset Change History Inquiry screen to view change data from the Asset Audit Log. Use the Print Change History screen to print change data from the Asset Audit Log.
If you select this checkbox and save the print parameters for this utility, "Y" will be stored in the Asset Audit Log column in the Query table.
Use the checkboxes in this group box to select each book for which you want to the system to verify/update depreciation computation data.
This checkbox is selected by default. Select this checkbox to verify/update depreciation computation data for the G/L Book.
If you select this checkbox and save the print parameters for this utility, "Y" will be stored in the G/L Book column in the Query table.
Select this checkbox to verify/update depreciation computation data for this book. This checkbox is not selected by default.
If you have not established this book in the Fixed Assets Settings screen, this checkbox and its label will be grayed out.
If you select this checkbox and save the print parameters for this utility, "Y" will be stored in the Book 2 column in the Query table.
Please refer to the documentation for Book 2.
The printing status of this report displays in this field. When the report status displays "Report Not Printed," the Process button on the toolbar is disabled. To update, you must first print the report using the Print button or the Print/Process button on the toolbar.
Select this button on the toolbar to print the report.
Select this button on the toolbar to update data in the Curr Depr Yr and Days/Pds Remaining fields in the Asset Master record G/L Book Info (Years) and Other Books Info subtasks of the Maintain Asset Master Info screen, as well as in the corresponding columns in the Maintain Asset G/L Book Info and the Maintain Asset Other Books Info screens with the system-computed values displayed in the report.
Once you have printed the report and selected the Process button on the toolbar, the system displays the following message:
The report has been printed. Are you sure you wish to update the data?
If you select the OK pushbutton, this activates the "Update" portion of the utility that applies the system-computed values to the Asset Master records. This process specifically updates the existing data in the Amt Taken Purchase YTD field by replacing the existing Asset Master data with system-computed values.
Select this button on the toolbar to print the report and update Asset Master record fields. After the report has printed, the system will prompt you to verify that you want to continue with the update process by displaying the following message:
The report has been printed. Are you sure you wish to update the data?
If you want to continue, select the OK pushbutton. If you do not want to run the update process, select the Cancel pushbutton.
The Update process replaces the values in the B1_CUR_DEPR_YR_NO (Current Depreciation Year for Book 1) and the B1_PDS_REMAIN_NO ( Periods Remaining for Book 1)fields in the ASSET (Asset) table, as applicable.
If you use any optional books, the Update process replaces the values in these fields, as applicable, in the ASSET_OTH_BK_DEPR table:
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If you have selected the Create Change History Records In Asset Audit Log checkbox in the Change History group box in this screen (and you have also selected the desired fields/columns in the Asset/Template Field/Column Names subtask of the Asset/Template Change Settings screen), the Update process will also record the applicable change data in the ASSET_AUDIT_LOG (Asset Change History) table.