A FAM Asset has empty Department, Class, and Location on initial creation. After initial creation, said Fields are uneditable on User Interface Record.
After performing an Asset Depreciation, an error message is received on FAM Process Status:
Error Log: INVALID_PRECALC_FIELD_VALUE: Please enter value(s) for: Class, Department, Location for FAM Asset.
To add Department/Class/Location, we can do it via Inline Editing. This process is only advisable for FAM Assets without any Depreciation History page Forecasts yet. If a fixed asset already has a Depreciation History page Forecast, an Asset Transfer should be performed instead.
Steps to follow:
A. Update FAM Asset via Inline Editing
1. Using an Administrator Role, navigate to Fixed Assets > Lists > Assets
2. On the FAM Asset List page, click the Customize View button
3. Under Results tab, add the following Fields: ID, Name, Department, Location, Class
4. Click on Preview
5. On the Results page, toggle on the EDIT button. It will turn green once enabled
6. Department, Class, and Location columns will now have a pencil icon beside them which means they can be edited
7. Update them as necessary. Enter values on said Fields
8. Click anywhere on the screen to submit change and update the FAM Asset Record. Refresh page to verify
B. Perform a Reset of Asset Values
To perform a Reset of Asset Values on the affected fixed assets so that the correct Depreciation History Forecasts can be created, follow the steps below:
1. Edit the FAM Asset Record
2. Under its General tab, set Depreciation Active = False
3. Click on Save
4. A Reset Asset Values would be queued in the background
5. Edit the FAM Asset Record again
6. Set Depreciation Active field back to True
7. Click on Save
8. Navigate to the Fixed Assets Management page (Fixed Assets > Setup > System Setup) and click on the Precompute Depreciation Values button
9. On the FAM Process Status page, wait for the Generate Depreciation Schedule Process to complete. Verify if a new Depreciation History Forecast is created on the Depreciation History page of the fixed asset.
Note: To view the FAM Process Status page, navigate to Fixed Assets > Background Processing > Status.
After performing the above steps, proceed on running an Asset Depreciation.