Set Up Valuation Matrices
Asset Consumption Theory is used to value assets in this version of myData.
All Consumption Matrices are user-defined (by internal staff or an external valuer) and can be set individually for each asset type based on their characteristics.
Matrices can be straight-line (Linear) or Nonlinear depending on the organisation's preference and availability of data.
To set up a Valuation Matrix for an asset category, follow the steps as below:
Step 1: Select the Asset Register tab and select Setup Valuation Matrices option
Step 2: Select Add to add a valuation matrix. Choosing this option will bring users to the edit matrix screen
Step 3: Enter the Matrix Code and Description and then select Add to add values
Step 4: Add values as shown above and click Save. This particular matrix now available and will be used in calculating Written Down Value and Remaining Useful Life
Step 5: Alternatively, users can import matrices from an Excel file with the Import Function
Note 1: Matrices can be edited as required
Note 2: Matrices used by assets in past FY should not be edited or deleted
