Using Replacement Value

Replacement Value is a calculated amount for each individual asset. There are several fields in Asset Detail view that are related to the Replacement Value feature.

Asset Detail of an individual asset displays the Replacement Value for that asset. The Replacement Value fields are located just above the Custom fields (in the General Information field section of Asset Detail).

There are two fields relating specifically to Replacement Value: Replacement Value and Override RV. The Replacement Value field indicates the current Replacement Value amount for the asset. This is the field that the system updates every year as depreciation is run. The Override RV field is where the user can enter a value to be used in place of Acquisition Value as the starting point for calculating Replacement Value.

Other fields that relate to Replacement Value include the following:

• Class (or whichever General Information field is selected for applying the RV index),

• Acquisition Value in the Replacement Value book, and

• Current Through Date in the Replacement Value book

Note: The Current Through Date field is extremely important. It indicates which year that the Replacement Value amount displayed represents. (Remember just like depreciation, you can calculate RV amounts for earlier periods.) For example, if the Current Through Date is 2/11, the 2011 RV index has been applied and Replacement Value has been calculated for the 2011 year.