May 6, 2019
Jacquie Chischillie, Technical Sales Engineer, Projetech
Did you know you can now assign a Depreciation Schedule to an Asset in Maximo? This has been a highly requested feature and is now available in Maximo 126.96.36.199.
In order to set up a Depreciation Schedule for an asset it must have a starting cost and salvage amount prescribed. To make the process easier, both values can be defined during the process of creating the depreciation schedule.
So, let’s get started.
We are going to look at our Asset 11400, a Boiler.
Once we are on the Asset page, scroll down the left side of the screen to the More Actions list
You will see you now have the option to select Depreciation Schedule
From the Depreciation Schedule drop-down, select Manage Depreciation Schedule
First thing you will have to do, if not done already, is define the Starting Cost and Salvage Amount
The first step to defining the schedule is to create a New Row in the Schedule Definition table and specify thedesired Method for schedulingdepreciation.
After creating a new row, there are several fields in the dialog box that are required to define the depreciation schedule.
The first field is the Method. Click on the search icon to open the menu for either a Straight-Line or a Double-Declining calculation.
The next required field is Period Type. Maximo will calculate your depreciation based on either Date for Time or Meter for Usage.
In the Periods field, specify the number ofdepreciation periods that are in the schedule. This must reflect the PeriodType you selected, Date or Meter.
The Ratio is the portion of this schedule's current valuethat is used to calculate the asset current value. For example, 20 means 20 percentof this schedule's current value is added to the value of other schedules todetermine the asset's current value. The sum of the ratios for the asset'sschedules must equal 100%.
Lastly you must define the Date Periods, if the schedule is based on Time, or the Meter Periods if the schedule is based on Usage.
By default, Maximo provides Date Periods of:
By default, Maximo provides Calculation Days of:
Maximo will only display the Meters already associated with the Asset when the Meter option is chosen.
Click OK to save the schedule.
Now you will be able to see the Depreciation Schedule by going to: More Actions > Depreciation Schedule > View Depreciation Schedules
At Projetech, we work with your company to customize a solution that meets your business goals and unique business needs while still fitting into your budget.
Don't take our word for it. Hear from some of our best clients and their own experience moving to the Projetech Cloud.
An Apex of Support & Performance Improvement for IBM's Maximo Delivered by Industry Experts
Our subscription-based model, Maximo Plus+ provides clients with one of the best Maximo support options available! Help Desk support, monitoring, license right-sizing, and more!Continue Reading
Security While Traveling
Most cyber-security experts agree that about 20% of travelers are subject to cyber crime while abroad. Any time you use your phone or laptop on a public network, you are subject to criminals accessing sensitive and confidential data from you or your organization. At Projetech, we keep the following in mind while we travel and suggest you do the same in order to protect your data.Continue Reading
Join the Network of Maximo Experts
Sign up below to receive all the best Maximo content from us and our solution providers.