EAM navigation and data entry - HxGN EAM - Version 11.07.01 - Feature Briefs - Hexagon

HxGN EAM Equipment Depreciation
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English
Product
HxGN EAM
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Feature Briefs
HxGN EAM Version
11.7.1

The user will begin the process to track asset depreciation by navigating from the Main Menu to the Assets screen, select an asset, and then go to the Depreciation tab.

  1. The user will click Add Depreciation Type.

  2. The user will select a Depreciation Type (GAAP, GASB, IFRS, or *)

  3. If there are no existing depreciation records for the asset, the system will default the From Date to be the asset’s Commission Date.

  4. The user will then select the Depreciation Method (Straight Line, Double Declining Balance, Sum of Years Digits, or Units of Output)

  5. If there are no existing depreciation records for the asset, the system will default the Depreciation Category to Commission.

  6. The user then enters values for Starting Value, Remaining Useful Life, and Residual Value and saves the record.

The asset depreciation tracking process has begun. The system will calculate depreciation for the asset, using the selected depreciation method at regular fiscal intervals. These figures can be viewed by clicking the View Depreciation Details button. EAM will display the asset depreciation details in a protected list view. The Depreciation Details also include cumulative figures for Depreciation (To Date), Book Value (To Date), and Depreciation (Period to Date).

If, during the third annual maintenance and servicing of the asset, a sub-assembly is replaced with an enhanced sub-assembly build, this could extend the life of the asset and increase its residual value. Both events can be recorded and tracked with EAM.

For the increased useful life of the asset; the user will navigate to the Depreciation tab for the asset and click Add Depreciation Type.

  1. The user will select the Depreciation Type currently in use

  2. The user will select the From Date to be the date of the third annual maintenance review and service.

  3. The user will then select the current Depreciation Method

  4. The user will then select a Depreciation Category of Increase Life.

  5. The user then enters a value for the number of years more the asset will be in service to the Change Life field.

  6. The user then submits the record.

For the increased residual value of the asset; the user will remain on the Depreciation tab for the asset and click Add Depreciation Type.

  1. The user will select the Depreciation Type currently in use

  2. The user will select the From Date to be the date of the third annual maintenance review and service.

  3. The user will then select the current Depreciation Method

  4. The user will then select a Depreciation Category of Increase Value.

  5. The user will enter 0 for the Change Value field. The system will then enable the Residual Value field and the user will enter the new Residual Value for the asset.

  6. The user then submits the record.