Triggering the Asset Reset Process

The Fixed Assets Management system tracks changes to asset fields used in the depreciation formula, or that 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, perform the following steps:

• Add the FAM Asset Reset Data permission to your custom role, and set the level to Create.

• 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:

• Summarization — Any change to the summarization (Summarize by field in the System Setup page) automatically triggers the reset process and resets all asset records.

• Scheduled Script — The FAM Trigger Reset Process (Scheduled) SS script runs the reset process daily, if the system detects record changes that need a reset. You can manually run the script or change the time when it runs. For more information, see Managing Fixed Assets Scripts.

• Fixed Assets Transactions and Field Mapping — When you run certain FAM transactions or change the field mapping, the Asset Reset process is triggered. The following FAM transactions trigger the reset process:

  • Asset Split

  • Asset Depreciation

  • Asset Disposal (includes bulk disposal)

  • Generate Depreciation Schedule

  • Asset Revaluation

  • Depreciation Schedule Report

  • Asset Transfer (includes bulk transfer)

• Reset Asset Values in the System Setup Page — If the system detects record changes that need a reset, the Reset Asset Values button appears 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 are added to the Process Status page. Click the Details link on the process to view the process stage details.

Process	Process Stage	Process Stage Description
Reset Asset	Prepare Data to Reset Records	Gathers changes to the record that 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 are created 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

General Notices