Siebel Field Service Guide > Assets > Process of Managing Assets >

Calculating Value and Replacement Cost of Assets (End User)

You can calculate the value and replacement cost of an asset. Value and cost of assets allows businesses to accurately report the value of inventory and to make decisions about repairs and replacements of assets.

This task is a step in Process of Managing Assets.

To calculate the value and replacement cost of an asset

1. Navigate to the Assets screen, then the List view.
2. Drill down on the Asset number (#) field for a selected asset, and click the Value view tab.
3. In the form, complete the following fields:
   1. In the Cost List field, select a cost list.

      NOTE:  The product for an asset determines the cost lists that you can select. If no cost lists are available for selection, then you must associate the product with a cost list. You can add a product to a cost list in the Cost List Line Items view in the Cost Lists view of the Administration - Pricing screen. To view the cost lists that are associated with products, navigate to the Cost Lists view of the Products screen.

   2. In the Value Basis field, select a value other than Adjusted.
   3. In the Condition field, select a value to designate the condition of the asset.
4. On the form, click Recost.

   The Asset Value and Replacement Cost field in the form are populated with the result of the calculation. The Asset Value field is calculated as follows:

   Original Cost field multiplied by the Factor field in the appropriate asset mapping record.

   The Replacement Cost field is calculated as follows:

   Cost list value of the product multiplied by the Factor field in the appropriate asset mapping record.

   If asset mapping is not set up for the asset, then a factor of 100% is used in the calculation. For more information, see Creating Asset Mapping Records.