Triggering the Asset Reset Process
The Fixed Assets Management system records the changes to asset fields that are used in the depreciation formula, or affect the DHR data and summarization. When the reset process is triggered, the system deletes the forecast amounts for all affected records.
To ensure that the process runs smoothly, make sure you perform the following steps:
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Add the FAM Asset Reset Data permission to your custom role, and set the level to Create.
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Enable the Run Server Scripts on CSV Import preference in the FAM System Setup page.
The reset process is triggered in any of the following ways:
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Summarization — Any change to the summarization (Summarize by field in the System Setup page) will automatically trigger the reset process and will reset all asset records.
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Scheduled Script — The FAM Trigger Reset Process (Scheduled) SS script triggers the reset process daily, if the system detects record changes that require a reset. You can manually run the script, or you can change the time when the script runs. For more information, see Managing Fixed Assets Scripts.
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Fixed Assets Transactions and Field Mapping — When you run certain FAM transactions or make changes to the field mapping, the Asset Reset process will be triggered. The following FAM transactions triggers the reset process:
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Asset Split
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Asset Depreciation
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Asset Disposal (includes bulk disposal)
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Generate Depreciation Schedule
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Asset Revaluation
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Depreciation Schedule Report
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Asset Transfer (includes bulk transfer)
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Reset Asset Values in the System Setup Page — If the system detects record changes that will require an asset reset, the Reset Asset Values button will be visible on the System Setup page. You can go to Fixed Assets > System Setup, and click the button to trigger the reset process.
The following table lists fields that can trigger asset reset:
Asset Field
Subtab
Resets Due To
Fields that will always trigger reset
Asset Lifetime
Update Forecast records
Parent Asset
Summarization of Journals
Repair & Maintenance Category
Maintenance
Summarization of Journals
Repair & Maint Subcategory A
Maintenance
Summarization of Journals
Repair & Maint Subcategory B
Maintenance
Summarization of Journals
Project
Journal Grouping
Depreciation Rules
General
Depreciation Formula
Inactive
Update Forecast records
Depreciation Account
Accounts
Update Forecast records
Depreciation Charge Account
Accounts
Update Forecast records
Depreciation Active
General
Update Forecast records
Custom Segment fields
Journal Grouping
Fields that will trigger reset only if included in the Depreciation Method formula
Asset Original Cost
Depreciation Formula
Asset Current Cost
Depreciation Formula
Residual Value
Depreciation Formula
Residual Value Percentage
Depreciation Formula
Depreciation Method
Depreciation Formula
Asset Lifetime Usage
Depreciation Formula
Current Net Book Value
Depreciation Formula
Depreciation Start Date
General
Depreciation Formula
Depreciation End Date
General
Depreciation Formula
Last Depreciation Period
General
Depreciation Formula
Last Depreciation Amount
General
Depreciation Formula
Financial Year Start
General
Depreciation Formula
Annual Method Entry
General
Depreciation Formula
If Asset Reset is triggered, the following processes will be added to the Process Status page. You can click the Details link on any process to view the process stage details.
Process |
Process Stage |
Process Stage Description |
---|---|---|
Reset Asset |
Prepare Data to Reset Records |
Gather changes to the record that will affect associated assets or tax methods. |
Reset Asset Values |
Removes the tag that identifies the record as having forecast amounts. |
|
Delete Old Forecast Values |
Deletes old forecast records and summary records with no associated records.
Note:
Forecast values will be generated when the system runs the script to generate the depreciation schedule. You can manually run the script or change its schedule. For more information, see Managing Fixed Assets Scripts. |
Related Topics
- Fixed Assets Management Overview
- Setting Up the Fixed Assets Management System
- Alternate Methods (Tax Depreciation Methods)
- Creating Asset Records through CSV Import
- Updating Asset Records Using CSV Import
- Manually Editing Asset Records
- Restricting the Editing of Asset Values
- Adding Tax Depreciation Methods to an Asset
- FAM Alternate Depreciation Sublist
- Depreciation Methods
- Depreciation History Subtab