Expiry Recalculation

You can use this tool on both Valued and Unvalued Assets, so make sure that Assets in your filter have:

•      A Status of ‘Existing’

•      A ‘Date Created’ or a ‘Condition’ (both is ok)

•      A ‘Measurement’

•      An Asset Type with both:

•      A ‘Standard Life’

•      A ‘Replacement Cost Rate’

•      An Optional ‘Modify Rate By’

Methods:

•      When you use the Date Created (YearCreated) method, the Expiry date is set to the Asset’s ‘Date Created’ plus the Standard Life from the Asset Type

•      When you use the Condition at latest Inspection Date (ConditionPoint) method, the ‘Remaining Useful Life’ is first determined using the Condition as a percentage of the Standard Life, added to the latest Inspection Date

•      When you use the Condition (ConditionPoint) method, the ‘Remaining Useful Life’ is first determined using the Condition as a percentage of the Standard Life, added to a specified Condition Date

•      Set the transaction date for the “Expiry Date, Key Parameter change transactions” by either:

•      Accepting the default of today’s date, or

•      Entering another more suitable date

Click the Run Task to perform the calculation to update the Expiry Date on each of the filtered Assets.  This new date is used by Conquest for the next calculation of Depreciation.