Compute/Update Amount Taken Purchase Year-To-Date

The utility from this screen should be especially helpful when you are initializing historical data in the Amt Taken Purch YTD field in Asset Master records.

This data is especially prone to error due to misinterpretation of the system "rules" for this field and/or because of missing/inadequate historical data. Initialization data in the Amt Taken Purchase YTD field is critical to the accurate calculation of depreciation, as is the data in the Current Depr Yr and Days/Pds Remaining fields.

Warning: This utility will verify/update Asset Master data only for books in which the assigned depreciation method uses a Date of Purchase basis and whose depreciation start date is before the current Fixed Asset posting Fiscal Year, Period, and subperiod. (For assets in the first period of a purchase year, the Amount Taken Purchase YTD value will be set to zero).

The verify and update portions of this utility follow methodologies similar to those used by the Verify/Update Depr Computation utility except that, in this utility, the system computes and compares values in the Amt Taken Purchase YTD field in Asset Master records, instead of the Current Depr Yr and Days/Pds Remaining fields.

Note: The utility run from this screen will verify/update data only for asset books in which the assigned depreciation methods use a Date of Purchase basis methodology and whose depreciation start date is before the current Fixed Assets posting Fiscal Year, Period, and Subperiod.

The Compute/Update Depreciation Computation Data utility can be used for ALL depreciable assets, regardless of whether the depreciation methods assigned use Date of Purchase or Fiscal Year basis methodology.

To assist you in entering the correct data in the Amt Taken Purchase YTD field in your Asset Master records, you can use this utility to verify the relationship of the value in the Amt Taken Purchase YTD field to the values in the Current Depr Yr and Days/Pds Remaining fields. For the selected asset records, this utility first produces a report that prints a side-by-side comparison of both the current value displayed in the Asset Master and the values that the system would have computed for the Amt Taken Purchase YTD fields.

For additional information, please refer to the specific documentation for the Amt Taken Purchase YTD fields for the G/L Book Info tab of the Manage Asset Master Information screen.

Note: The validations and rules by which depreciation is computed are followed in this report. For example, any record for which the Auto Calculate Depreciation check box is clear will not be included in the report, just as any such record will be skipped during depreciation calculations.

All values computed by this utility are based on the assumption that the values in the Current Depr Yr and Days/Pds Remaining fields are correct.

Although you can print this report for all selected records, you can also print the report for exceptions only or for exceptions only in which the Amt Taken Purchase YTD value is zero, which may make discrepancies easier to identify. After printing the report, 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 Amt Taken Purchase YTD fields in Asset Master records by replacing the existing data with the system-computed values.

If you do not apply the system-computed values, you may need to manually adjust some values in the Amt Taken Purchase YTD field for some Asset Master records to ensure the accuracy of depreciation calculations.

Warning: Because the Update portion of this utility will overwrite your existing data with system-generated data, you should always carefully review and agree with the reported results on a record-by-record basis before performing the Update process.

The Update process is similar to posting routines in that the report must first be printed before you can continue with the Update portion of the process. Never run the Update process as a matter of routine unless you are in agreement with the system data field changes that will take place for each Asset Master record.

You must print the Verify/Update Amt Taken Purchase YTD report before you can run the Update process. You can print the report for all selected records, for exceptions only, or only for exceptions for which the value in the Amt Taken Purchase YTD field is zero. This report provides supporting detail to the Update process and should be retained as part of the system audit trail.

All versions of the report (all records, exceptions only, or exceptions only for which the value in the Amt Taken Purchase YTD field is zero) print columns for the following data:

Asset Master Record Data

• Asset No/Item No
• Short Description
• Book No
• Depr Method Code
• Depr Start Date
• Current Depr Yr
• Days/Pds Remaining
• Amt Taken Purchase YTD

Values Computed by System

• Amt Taken Purchase YTD

Although you must print the Verify/Update Amt Taken Purchase YTD report before you can run the update process, you can also print the report without updating in order 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 Compute/Update Depreciation Computation Data utility. Please refer to the 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 verify timing statuses by running the Compute/Update Depreciation Computation Data utility, and before you compute depreciation for the first time.

This report provides supporting detail to the Update process and should be retained as part of the system audit trail.