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Updating The Asset Year To Date Costs Field

Technote (FAQ)


Is There A Process To Update The Year To Date Costs Field For An Asset?


The Year To Date Costs field on an Asset record does not update automatically.


The following are a few points to be aware of regarding the Year To Date Costs field in the Assets application...


  1. From the Assets application, display the record whose costs you want to reset.
  2. From the Select Action menu, select Zero Asset Costs.
  3. In the Zero Asset Costs window, select either of the following options:
  4. Select the Zero Year to Date Costs check box, to zero all costs to date within the current year.
  5. Select the Zero Total Costs check box, to zero all costs for the asset.
  6. Click OK.
  • Since the asset resides at the site level, the YTD Cost field only reflect costs incurred at the Asset's current site.  In other words, the value will reflect the aggregate cost up to this point, at this Site.
  • The YTD Cost field must be manually zeroed out by the user, via Select Action > "Zero Asset Costs?".  There is not an automatic, or otherwise installed functionality which automatically performs YTD Cost calculations based on the current date
  • To make use of the Asset YTD Costs field, you must run the Maintenance Cost Rollup report.  Its primary function is to update the Asset Year to Date & Total Costs fields on the Asset records.  This report compiles Labor charges to the Assets (either charged directly to the Asset or to a Workorder assigned to that Asset), Material issues (either Inventory issues or items purchased directly against the Workorder), Service Charges, and Tool charges.  Again, this is not run automatically in an out-of-the-box installation, it must be run manually.

Also, it is advisable to run the Maintenance Cost Rollup report during an off-peak usage time in your environment, especially if you've never run it before, since it will analyze all transactions up to the run date. 

Document information

More support for: Maximo Asset Management

Software version: Version Independent

Operating system(s): Platform Independent

Software edition: Enterprise

Reference #: 1995033

Modified date: 30 November 2016