Customizing Asset Management

Managing the Approval Process

By default, assets are approved using the Asset Management process app.

You can use these methods to modify the approval process as needed:

• Disable Asset Management Approvals

  In Asset Management, change the default value of the Requires Business Approval and Requires Financial Approval fields from Yes to No.

• Manage Approvals Through Service Requests

  In Service Requests, change the default value of the Requires Business Approval and Requires Financial Approval fields from No to Yes. This task can be performed in for the entire process app in SBM Composer or in SBM Application Administrator for specific Service Request projects.

  To prevent duplicate approvals, disable approvals in the Asset Management process app and set the Requires Business Approval and Requires Financial Approval fields to read only.

Regardless of the process app you use for asset approvals, you can enforce the process by setting the Requires Business Approval and Requires Financial Approval fields as required and as read only. This forces new assets through the approval process.

These tasks can be performed in for the entire process app Asset Management or Service Requests in SBM Composer or in SBM Application Administrator for specific projects.

Changing Depreciation Calculation Dates

By default, depreciation is automatically calculated on the first day of every month based on the calculation set for the Next Depreciation Date field and the "AM - Start Depreciation when Date is Reached" notification. The Notification Server must be running before depreciation calculations can occur.

You can change the frequency of depreciation calculations and the date on which calculations occur.

To change depreciation calculation dates:

1. In SBM Composer, open the Asset Management process app.
2. Edit the "Received" transition.
3. Modify the calculation for the Next Depreciation Date field. By default, the Operand 1 value is set to "Start of next month." Select a different value that occurs in the future.
   Tip: For best performance, calculate depreciation monthly rather than weekly or daily.
4. Repeat these steps for the "In Past" and "Empty" transitions.
5. Deploy your changes.

Customizing Asset Classes

Follow these steps to customize asset classes:

1. In SBM Composer, open the Asset Management process app.
2. Edit the Asset Classes field in the Assets table.
3. On the Options tab, modify the asset class values, including the prefixes for each value.
4. Review and modify the following form actions to show and hide values based on your asset class modifications:
   • Form Click: Set asset Name according to asset type (Update form)
   • Form Click: Hide panels according asset type (multiple transition forms)
     Tip: You can update this form action for one form, then copy the action to the remaining forms. Be sure to delete the original form action after you copy the modified action to a form.
5. Deploy your process app.

Adding Depreciation Types

Depreciation types are stored in the Depreciation Types auxiliary table. The types are used by the Asset Management orchestrations to calculate straight line and declining depreciation rates.

To add a depreciation type:

1. In SBM Application Administrator, open the Manage Data feature, and then select Depreciation Types from the Tables list.
2. Click New.
3. Provide a title for the depreciation type.
4. In the Expected Life box, specify the number of months for which depreciation should be calculated. The number must be divisible by 12.

   Depreciation for assets assigned to this type begins on the date set in the Depreciation Start Date field ends at the end of the period you specify here. The depreciation start date is typically set when an asset is acquired.

5. Select one of the following depreciation methods:
   • 1

     Use to calculate straight line depreciation.

   • 2

     Use to calculate declining balance depreciation.

   • 0

     Depreciation will not be calculated for this type.

Changing an Asset's Depreciation Date and Recalculating

There are times when you may need to modify an asset's depreciation method, cost, start date, or salvage value and recalculate the YTD Depreciation, Accumulated Depreciation, and Depreciation End Date for the asset. You must use the "Update Depreciation" transition after you modify the values since the depreciation fields are not calculated instantaneously.

In certain cases, the previously calculated Depreciation End Date prevents the depreciation fields from being updated. To stop the unnecessary overhead of processing assets that are past their Depreciation End Date, assets with an expired end date are ignored.

In some cases, when you change an asset's values, the Update Depreciation calculation will not update the item because its depreciation life has expired. If the calculated fields such as Depreciation End Date, YTD Depreciation, and Accumulated Depreciation are not being updated, you can use the "Reset Depreciation End Date" transition to clear the Depreciation End Date field. This allows depreciation orchestrations to run again. The "Reset Depreciation End Date" transition is only available to administrators.