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:

• 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) will automatically trigger the reset process and will reset all asset records.

• 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.

• 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:

  • 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 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

General Notices