The Expiry Date Calculator Form allows Conquest to calculate the remaining useful life of a filtered set of Assets. This task is often performed immediately prior to a Revaluation.
The calculation can be based either on the Date Created of the Asset or on the Current Condition, over a filtered set of Assets. When using the Condition method, the following options are available:
|
Option |
Purpose |
|
Set Condition Date |
The date on which the current Condition Rating is assumed to have been assessed. It will be unavailable if the ‘Use Inspection Date’ option is selected. |
|
Use Inspection Date |
Use each Asset’s current Inspection Date as the date for calculation of Remaining Useful Life. This is the recommended option. |
When using the ‘Date Created’ option, the Expiry date is set by adding the standard life as defined in the Asset Type to the YearCreated field for the asset.
When using the ‘Condition’ option, the remaining useful life is first determined using the ConditionPoint field and then added to the Inspection Date.
The Run Button will perform the calculation on the filtered Assets and, when finished, update the Expiry Date. This is the date used by Conquest for the next calculation of depreciation.
This function applies to all Assets, whether valued or non-valued. Valued Assets will have a Depreciation Transaction generated before the date change, if the ‘Force depreciation before Action Completion’ Option is set to True.