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Value View

The Value view calculates the current value of an asset based on its history.

There are two ways that assets can be valued:

• Changes in asset value. An asset value is based on the original cost of the asset, plus or minus changes to the asset (such as upgrades or damage). This is an accurate method for tracking assets, but requires entry of detailed asset information. This information is entered in the Asset Valuation subview.

  NOTE:  Asset Valuation records can have negative cost values to reflect devaluation in the asset cost.

• Asset mapping. An asset is valued as a percentage of its value on the cost list. The percentage is based on the current condition of the asset. For example, a new asset in excellent condition would be 100% of the cost list value, while a used asset in average condition would be 40% of the cost list value. For information about setting these percentages, see Asset Mapping View.

Both cost and value are important because they allow businesses to report the value of their inventory accurately and to make repair versus replace decisions based on asset valuation.

Recost

A Recost function is available as both a button and a menu command in the Asset Screen's Value view. Recost assesses an asset's cost by applying data from asset value records. To calculate the current cost and the replacement value of the asset, an end user must select a cost list, condition, and value basis and then click the Recost button or choose Recost from the view menu. Recost calculates the values by taking the cost of the asset from the cost list, factoring in the cost method, and applying the factor from Asset Mapping. Asset Mapping must provide mapping for Asset Value and Replacement Cost. If the mapping is unavailable, the factor defaults to 100%.