Valuation

Navigate: Personal Property Appraisal > Batch Processes > Batch Valuation

Description

Use the Batch Valuation task to schedule a batch process to value a group of personal property accounts.

Jurisdiction Specific Information

California

• A valuation method called Recommended Maximum Valuation has been created, and accounts are now valued using this valuation. The formula for this is: 1.) If Age > Economic Life, then multiply Economic Life by 125% to find the Computed Age; 2.) If Age < Computed Age, then use the Computed Age against the normal Value Factor table to determine the factor, 3.) If Age > Computed Age, then use the Age against the normal Value Factor table. When revaluing an asset and clicking Save on the Maintain Assets screen (Personal Property Appraisal > Assets > search/select > Maintain Assets), the system uses the acquired date to determine the age of the asset and check the Economic Life versus the age of the asset. The Recommended Maximum is then used to determine the Computed Age. The Computed Age is compared to the Age of the Asset. Using the Computed Age, the system determines the value factor from the Computed age and value schedule. The Computed Age is used to find the Percent Good Schedule to use. The acquired cost, value factor and percent good are multiplied to determine the Appraised Value. If the asset does not meet the Recommended Maximum Valuation rules, when clicking Save, the Acquired Date is used to determine the age of the asset. The system checks the Economic Life versus the Age of the asset and uses the Recommended Maximum to determine the Computed Age. The Computed Age is compared to the Age of the asset. The value factor is then determined from the Age of the Asset and the value schedule. The system takes the Age of the Asset to find the Percent Good Schedule to use. The acquired cost, value factor and Percent Good are multiplied to determine the Appraised Value. To accommodate this, a new Value Method Schedule was set up with the Age Type = Maximum age. A new Recommended Maximum Factor application setting was created to define the maximum factor. A new Value Age column was added to the Summary grid of the Maintain Assets screen (Personal Property Appraisal > Assets > search/select > Maintain Assets. In addition, the Valuation tab on this screen includes a new Recommended Maximum Override checkbox that when checked allows overriding this valuation method. NOTE: This checkbox displays only when the State Abbreviation System application setting is set to CA.

• SETUP: Click Configuration > Application Settings > Maintain Application Settings. Select the setting type of Effective Date and the filter by module of Personal Property Appraisal. Click Edit on the Recommended Maximum Factor application setting and set as applicable. NOTE: The value should be set to > 1. Next, click Edit on the State Abbreviation System application setting and set it to CA to enable the Recommended Maximum Override checkbox on the Maintain Assets screen.

Riverside

• The ability to apply the BOE recommended percentage adjustment to the third party valuation as well as for value adjustments for condition, sales tax, additional depreciation, etc., is now available. To accommodate this a new valuation method has been created.

• During value calculations, if the value methods are set up, Aumentum optionally auto adds a value modifier based upon an object behavior when performing batch or individual calculation. A warning message is then displayed: 'Modifier auto added for x assets' (where x = count of assets getting modifier added).

• During value calculations, if value methods are set up, Aumentum replaces the value modifier based upon an object behavior if it already exists when performing batch or individual calculation. A warning message is then displayed: 'Modifier auto modified for x assets' (where x = count of assets getting modifier added).

• When performing batch or individual calculation, the value from the modifier default value is applied as the new value when the value methods are set up to include value modifiers, the object behavior is set up to auto apply the given modifier during valuation, and a default modifier value is set up in the PPAModifierDefn table. NOTE: This is configured by the BA and is not editable at present by the user.

• When the modifier already exists and the modifier matches the definition, the modifier is not updated.

• When the modifier already exists and the modifier does not match the definition, the modifier is updated (replaced).

• Setup: To configure an external valuation source, go to Personal Property Appraisal > Setup > Value Methods > Maintain Value Methods. Select Value Schedule Configuration from the Type field in the Value Method panel when editing an existing value method and then select the existing value method types for the Value Type Input or select the value schedule configuration for the Value Type Input. To configured the Appraised Modifiers, select Value Schedule Configuration from the Type field in the Value Method panel. When editing the value method step, apply the value modifier by selecting it from the Appraised Modifier drop-down list. To configure an external value method to allow 'Calc Value Basis' as input and output value types, select Value Schedule Configuration as the Type and select 'Calc Value Basis' from the Value Type Input drop-down list and from the Value Type Output drop-down list.

Steps

NOTE: If you want to value only a single asset or a single personal property account, do not use this task. Instead, search for and open the personal property account and then value one or all of its assets using the Maintain Assets screen.

1. On the Process Batch Valuation screen, make a selection from the Selection Method list and click Selection Criteria.

   • Account Search – Opens the Select Accounts for Valuation screen.
   • Comma Delimited PIN List – Opens the Search PIN List screen.
   • Criteria Groups – Opens the Search Criteria Group List screen.
   • Revenue Object List – Opens the Select Revenue Object List screen.

   Enter the applicable information on each screen, scroll to the bottom, and click Row Count to get a count of records. Click Previous to return to the Process Batch Valuation screen.

2. In the Valuation Options panel:

   • Select the Revalue assets with locked values checkbox, if applicable.
• Select the Check Cost and Value Variance Tolerances checkbox to include these tolerances for any accounts with the Appraised Value Variance Tolerance Default Flag set on them.

NOTE: For details about this checkbox, see Modeled Values Appraised Values Analysis Report, which includes details about application setting and account flag setup required for valuing these accounts and for generating a report to compare values with the output generated as pare of this batch valuation process.

• Make a selection from the Cycle Status drop-down list.

3. in the Schedule Batch Job panel, enter or select a schedule date and time, which is when you want the valuation batch process to run. The default is the current date and time.

   • Click the Recurring schedule checkbox to display scheduling options.

4. Click Finish to send the process to the batch processor. When the schedule date and time arrives, the batch valuation processing begins.

• A value is calculated for each asset belonging to the personal property accounts that meets the selection criteria. The asset's Working appraised field is updated. The Prorate amount is updated as well if the asset's value is being prorated.

• Each asset's Asset needs valuing checkbox is cleared.

• Each asset's Asset needs posting checkbox is selected.

• Each account's Working Appraised amount is updated.

• Each account's Working Assessed amount is updated.

• Monitor the batch process or check its status via Info Center > Batch Processes. Double-click the ConfirmationDetail.pdf file when the process is complete. This report file details the valuation results including warning messages, error messages, and processing counts.

IMPORTANT: You can schedule the batch valuation process only if you have the required security privileges. If you cannot access this task, see your System Administrator.

Tips

The account's Working Appraised and Working Assessed fields can be viewed on the Maintain Personal Property Accounts screen. The asset data can be viewed on the Maintain Assets screen.

See Batch Processes in Aumentum for more information about running and monitoring batch processes.