Creating an asset valuation record

  1. Select Asset Management > Asset Valuation > Asset Valuations > Add Asset Valuation.
  2. Specify the asset for which you're creating the valuation.
    1. Select the asset type from the Asset list.
    2. Specify the identification code for the asset in the ID field or fields to the right of the Asset list.
      Note: You can click the Asset link to view the asset in the asset InfoViewer.
  3. Specify this information:
    Book ID
    Specify the name of the asset valuation book being used.
    Acquisition Date
    Specify the date on which the asset was acquired.
    Acquisition Type
    Specify the manner in which the asset was acquired.
    Depreciation Method
    Select the correct depreciation type and details.
  4. Select one of these depreciation methods in the Depreciation Method list, and specify the depreciation details indicated:
    No Depreciation
    Specify the initial cost and, if applicable, the insurance and tax valuation of the asset.
    Straight Line
    Specify the initial cost, residual value, and expected life of the asset. The asset's value will be depreciated in a straight line from the initial cost to the residual value over its expected life.
    Reducing Balance
    Specify the rate at which the asset depreciates in the Depreciation Rate (%) field, and specify the initial cost and residual value of the asset. This formula is used to calculate reducing balance depreciation:

    (Written Down Value - Residual Value) * Depreciation Rate * Depreciation Period

    Because the asset’s value depreciates by a set percentage each year, this formula produces a gradually flattening curve.

  5. Specify any other information about the asset valuation.
    You can specify a category code and a class code for the valuation, and you can associate up to three budget numbers. If you want to assign the valuation to a group, you can specify the group ID in the Valuation Group field. You can also use the Linked Asset Valuations grid to link the valuation to one or more existing valuations. If your agency has already disposed of or sold this asset, you can record the asset's disposal value or sale details.
  6. Click Save.
    You can click the "Asset Valuation" link to view and edit the valuation record in the Asset Valuation InfoViewer or the Asset ID link to view the asset in the asset InfoViewer. You can also create another asset valuation record starting new or by using the current record's values.