Asset Management Mass Update

The Asset Management Mass Update page allows authorized users to maintain and update asset information globally when certain values associated with assets are replaced with different values. This feature allows users to change specific fields all at once.

  1. To access the Asset Management Mass Update page, go to Maintenance > Financial Management > Asset Management > Mass Update.
  2. In Attribute, select the attribute that needs to be updated. The value selected determines the information that displays on the page. Choose from one of the following attributes:
    • Depreciation Method
    • G/L Distribution Profile
    • Insurance Policy
    • Location
    • Responsible Employee
    • Responsible Department
    • Lease Contract

Note: If while updating a customer record you need to clear your changes, click Reset at any time to return to the previous state the page was in before you save your changes. 

  1. After updating or entering the required information, click Update to apply the mass update and display the results.

Expand a link below for more information on an attribute.

The Depreciation Method screen of the Asset Management Mass Update page allows authorized users to enter information about the depreciation information to update, such as the department and effective dates.

  1. In Current Method, select the depreciation method that you want to update/replace.
  2. In Replacement Method, select the depreciation method to use as the replacement for the current method.
  3. Select the Update Current Method Status check box if the depreciation method being replaced should be changed to having an inactive status. If not selected, the next two check boxes are enabled.
  4. The Apply to Asset Class Defaults check box is enabled if the Update Current Method Status check box is not selected. Select the check box if the replacement depreciation method should be applied to those asset classification defaults using the current method.
  5. The Apply to Assets check box is enabled if the Update Current Method Status is deselected. Select this check box if the replacement depreciation method should be applied to the individual assets using the current method.

The G/L Distribution Profile screen of the Asset Management Mass Update page allows authorized users to enter information about the general ledger information to update such as the profile and effective dates.

  1. In Current Profile, select the profile that you want to update/replace.
  2. In Replacement Profile, select the profile to use as a replacement for the current profile.
  3. Select the Apply to Asset Class Defaults check box if the replacement profile should be applied to those asset classification defaults using the current profile.
  4. Select the Apply to Assets check box if the replacement profile should be applied to the individual assets using the current profile.
  5. The Effective Date is required when the Apply to Assets check box is selected. This contains the date to be used as the starting point for the replacement profile for the assets. The default is the current system date.

The Insurance Policy screen of the Asset Management Mass Update page allows authorized users to select the insurance policy information to update.

  1. In Current Policy, select the insurance policy that you want to update/replace.
  2. In Replacement Policy, select the insurance policy to use as a replacement for the current method.
  3. Select the Update Current Policy Status check box if the insurance policy being replaced should be changed to having an inactive status.
  4. The Apply to Asset Class Defaults check box is enabled if the Update Current Policy Status check box is not selected. Select this check box if the replacement insurance policy should be applied to those asset class defaults using the current policy.
  5. The Apply to Covered Assets check box is enabled if the Update Current Policy Status check box is not selected. Select this check box if the replacement insurance policy should be applied to the individual assets using the current policy.
  6. The Effective Date is required if the Apply to Covered Assets check box is selected. This contains the date to be used as the starting point for the replacement insurance policy for the assets.

The Location screen of the Asset Management Mass Update page allows authorized users to select the location information to update.

  1. In Current Location, select the location that you want to update/replace.
  2. In Replacement Location, the location to use as a replacement for the current location.
  3. Select the Apply to Asset Class Defaults check box if the replacement location should be applied to those asset class defaults using the current location.
  4. Select the Apply to Assets check box if the replacement location should be applied to the individual assets using the current location.
  5. The Effective Date is required when the Apply to Assets check box is selected. This contains the date to be used as the starting point for the replacement location for the assets. The default is the current system date.

The Responsible Employee screen of the Asset Management Mass Update page allows authorized users to select the employee information to update.

  1. In Current Responsible Employee, select the responsible employee that you want to update/replace.
  2. In Replacement Responsible Employee, select the responsible employee to use as a replacement for the current department.
  3. Select the Apply to Asset Class Defaults check box if the replacement employee should be applied to those asset class defaults using the current employee.
  4. Select the Apply Assets check box if the replacement employee should be applied to the individual assets using the current employee.
  5. The Effective Date is required when the Apply to Assets check box is selected. This is the date to be used as the starting point for the replacement employee for the assets. The default is the current system date.

The Responsible Department screen of the Asset Management Mass Update page allows authorized users to select the department information to update.

  1. In Current Department, select the department that you want to update/replace.
  2. In Replacement Department, select the department to use as a replacement for the current department.
  3. Select the Apply to Asset Class Defaults check box if the replacement department should be applied to those asset class defaults using the current department.
  4. Select the Apply to Assets check box if the replacement department should be applied to the individual assets using the current department.
  5. The Effective Date is required when the Apply to Assets check box is selected. This is the date to be used as the starting point for the replacement department for the assets. The default is the current system date.

The Lease Contract screen of the Asset Management Mass Update page allows authorized users to select the lease contract information to update.

  1. In Current Lease Contract, select the current lease contract that you want to update/replace.
  2. In Replacement Lease Contract, select the replacement lease contract to assign to assets and asset classifications.
  3. Select the Update Current Lease Contract Status check box if the lease contract being replaced should be changed to having an inactive status.
  4. The Apply to Asset Class Defaults check box is enabled if the Update Current Lease Contract Status check box is not selected. Select this check box if the replacement lease contract should be applied to those asset class defaults using the current lease.
  5. The Apply to Covered Assets check box is enabled if the Update Current Lease Contract Status check box is not selected. Select this check box if the replacement lease contract should be applied to the individual assets using the current lease.
  6. The Effective Date is required when the Apply to Covered Assets check box is selected. This is the date to be used as the starting point for the replacement lease contract for the asset. The default is the current system date.

See also:

Asset Management Setup

G/L Distribution Profiles

Insurance Policies

Lease Contracts