Using Integration Manager for Asset Cost Basis Adjustment

  • Using Integration Manager for Asset Cost Basis Adjustment

    Posted by DSC Communities on March 7, 2017 at 3:05 pm
    • Jacob Dinota

      Member

      March 7, 2017 at 3:05 PM

      Hello GPUG,

      We have hundreds of assets that need to have their cost basis lowered. Instead of going in one by one and manually adjusting, is there a way to use Integration Manger to adjust them all at once?

      ——————————
      Jacob Dinota
      Connections Education LLC
      Baltimore MD
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    • Michael Taranto, CPA

      Member

      March 8, 2017 at 11:30 AM

      The integration manager with the econnect installed, can import Fixed Assets.  It only has an insert mode and not an update.  You would then have two options.  First, export out your fixed asset information using smartlist or a tool of your choice, make the changes, clear the fixed asset table and then import.  Another choice would be to create a macro and use the transfer asset feature under transactions with a word mail merge. 

      Hope this points you in a direction you can use.

      Thanks
      Mike

      ——————————
      Michael Taranto, CPA
      President
      ERP Consulting LLC
      Pataskala OH
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    • Jacob Dinota

      Member

      March 16, 2017 at 10:15 AM

      Hi Mike,

      When you say we need to clear the fixed asset tables, what do you mean by that? Are you saying that we need to basically delete all of our fixed assets and then reupload them all back with the corrected information?

      Also, how is life to date depreciation affected by all of this?

      Thanks for your help,
      Jake

      ——————————
      Jacob Dinota
      Connections Education LLC
      Baltimore MD
      ——————————
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    • Blair Christensen

      Member

      March 8, 2017 at 2:51 PM

      If you use the eConnect version of the Asset General Information Destination, you can set up an Integration.  The following fields are required (in addition to Cost Basis which is what you want to adjust):

      Asset ID CHAR(15)
      Asset ID Suffix NUMERIC
      Description CHAR(40)
      Class ID CHAR(15)
      Book ID CHAR(15)
      Place in Service Date DATE
      Depreciated to Date DATE
      Cost Basis NUMERIC

      If you can export the existing Assets and then add the necessary information, you should be able to import this back in.  Hope that helps.

      ——————————
      Blair Christensen
      Database Administrator
      Oppenheimer Companies, Inc.
      Boise ID
      ——————————
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    • Blair Christensen

      Member

      March 8, 2017 at 2:54 PM

      Just a note, but you should always test Integrations against a test environment before attempting to use them in production!

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      Blair Christensen
      Database Administrator
      Oppenheimer Companies, Inc.
      Boise ID
      ——————————
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    DSC Communities replied 7 years, 4 months ago 1 Member · 0 Replies
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