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Creating an Assessment

The Capital Planning application gives you a simple way to forecast asset replacement costs and ensures you have enough money in reserve to meet your replacement requirements. *Note: If you do not currently have this application, please contact your Sales Representative or Client Services for more information.

Creating an Initial Assessment

  • Click on Search from the navigation menu, then select the Assets tab. *Note: An initial assessment can be added when creating a new fixed asset.



  • Enter the details of the asset in the search fields and click Search Now.
  • Click on the Asset Name/Description shown in the search results to open that asset record.
  • To set up your initial assessment, the following information is required:
    • Purch date - Enter the date the asset was purchased.
    • Purch cost - Enter the cost of the asset when it was purchased.
    • Mfg. Est. Lifespan - Enter the service life of the asset in years and months based on the manufacturer’s specifications and the user’s industry knowledge of the asset.



  • Click Save at the bottom of the General Info section.
  • Close the asset record and reopen it to refresh the Capital Planning panel and view the initial assessment.


Creating Additional Assessments

The Capital Planning panel allows you to track additional assessments that have been performed for the asset. These assessments may be based on physical inspections, maintenance history, and/or the manufacturer’s guidelines. To enter additional assessment information:

  • Open the Capital Planning panel on an asset profile.
  • In the Assessments table, enter the details of the assessment on the row labeled New:
    • Date - Select the date of the assessment.
    • Assessed By - Select the employee who completed the assessment.
    • Reason - Select the reason why this assessment was completed from the available pick list.
    • Condition - Select the condition of the asset.
    • Replace Cost - Enter the cost to replace the asset.
    • Add’l Cost - Enter any cost in addition to what is required to replace the asset.
    • Life (yrs) - Enter the number of years the asset will remain in service. This number may be determined by the asset’s condition, use, or the manufacturer’s recommendations.



  • Click the Save icon (). The Replacement Forecast section will populate with a summary of the replacement data for the asset.
  • The Current replacement cost is calculated using the number entered in the Default Inflation Rate setting.
  • To manually adjust the inflation rate for this asset, click the Lock inflation rate for this asset checkbox. Enter the new percentage rate in the field beside %/yr.
  • Check the Cycle asset replacement checkbox to set a fixed schedule for the replacement of the asset. The schedule will be based on the initial life of the asset. For example, if you know that you will be replacing a boiler every 15 years, enter the original assessment Life (yrs) as 15. This ensures the asset will appear on the Replacement Schedule Report on a 15-year cycle.
  • Click Save.
  • The Forecasting extended replacement by box serves as a visual indicator of the performance of the asset.
    • Green indicates you are on track with your asset replacement forecasting, or the life of the asset was extended beyond what was originally planned.
    • Red may indicate a problem that requires retirement of the asset earlier than anticipated.