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Step 22: Compute/Update Amount Taken Purchase Year-To-Date

This utility will compute/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 Assets posting Fiscal Year, Period, and Subperiod. 

For assets in the first period of a purchase year, the Amount Taken Purchase YTD value will be automatically set to zero.

To assist you when you enter the correct data in the Amt Taken Purch YTD field in your Asset Master records, you can use this utility to verify the relationship of the value in the Amt Taken Purch YTD field to the values in the Current Depr Yr and Days/Pds Remaining fields.

This utility should be especially helpful when you are initializing historical data. Data entry in the Amt Taken Purch YTD field in Asset Master records is particularly 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 Purch YTD field is critical to the accurate calculation of depreciation (as is the data in the Current Depr Yr and Days/Pds Remaining fields).

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

For new Asset Master records, the system will automatically initialize and update the values in the Amt Taken Purch YTD fields in Asset Master (provided you have not entered data in these fields) when you close the current accounting period.

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

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

The Update process is similar to posting routines in that you must first print the report before you can update. Never run the Update process as a matter of routine unless you agree with the system field changes that will take place for each Asset Master record.