485.2.5 Item Depreciation/appreciation[//]

This option allows you to recalculate item costs. Item costs can either be appreciated or depreciated based on age. The library identifies the amount (percentage) of depreciation/appreciation by linking item statistical category patterns to a depreciation/appreciation format.

The related parameters are set through AFO 469 – Item Management Parameters – Depreciation/appreciation formats & Depreciation/appreciation table.

After choosing this option a submenu will be displayed:

485.2.5.1 Item depreciation/appreciation update:

The age of an item is either determined by its title accession date or by the date it was entered into your system. [ For items linked to MARC21 bibliographic records, the accession date is taken from tag 008 chars 0-5. The format of the date is YYMMDD. For items linked to UNIMARC bibliographic records, the accession date is taken from tag 100 subfield characters 0-7. The format of the date is YYYYMMDD. ]

If a valid date cannot be determined from the bibliographic record (or you have set the Properties such that age is based on the date the item was entered into your system), the system used the date the item was entered into your system.

Only two digits of the year (i.e. the purchase year) are used for the depreciation / appreciation calculation. This means that an item purchased in December is depreciated a month later in January.  The first time the depreciation/appreciation process is run in the new year it will update all items.  If the 008 tag does not contain a legal date (or your Properties are set to ignore the bibliographic date), the date the item was added to the system is used.  If the original cost is $0, no new depreciated cost is calculated.  Each time an item is depreciated/appreciated, the system stores the date in the item record. This date is used to determine if the item has been depreciated this year or not by comparing the year portion of the field with the current year. If the current year is greater than the item’s last year depreciated/appreciated date, the item’s cost is depreciated/appreciated and stored into the item cost field. The item’s Statistical Category is used to find a match in the Depreciation/appreciation table and determine the Appreciation/depreciation format to use for the item (i.e. AF,AN,JR).

Based on the age of the item and the determined Appreciation/depreciation format, the new cost is calculated. The new cost cannot be lower that the minimum cost. The depreciated/appreciated cost is rounded up to nearest euro / dollar / pound.

Example

(all examples in this section use the dollar as currency)

Tag 008 characters 0-5 :041221    (meaning 2004 Dec 21)

Item Original price: 25.00

Example: Depreciate

Item statistical category: 00600   (translates to format AF and 10% per year)

·                Jan 1, 2005 the process is run and the item is depreciated by 10%.

-                 -even though the book was only purchased 2 weeks prior it will be depreciated

-                   for 1 year.

-                 25.00 * 10% = 2.50

-                 25.00 – 2.50 = 22.50 round up to the nearest dollar = 23.00

·                Jan 1, 2006 the process is run and the item is depreciated by 20%.

-                 25.00 * 20% = 5.00

-                 25.00 – 5.00 = 20.00 round up to the nearest dollar = 20.00

·                Jan 1, 2007 the process is run and the item is depreciated by 20%.

-                 25.00 * 30% = 7.50

-                 25.00 – 7.50 = 17.50 round up to the nearest dollar = 18.00

Example: Appreciate

Item statistical category: 00078   (translates to format AN and 5% per year).

·                On Jan 1, 2005 the process is run and the item is appreciated by 5%.

-                 -even though the book was only purchased 2 weeks prior it will be appreciated

-                   for 1 year.

-                 25.00 * 5% = 1.25

-                 25.00 + 1.25 = 26.25 round up to the nearest dollar = 27.00

·                Jan 1, 2006 the process is run and the item is appreciated by 10%.

-                 25.00 * 10% = 2.50

-                 25.00 + 2.50 = 27.50 round up to the nearest dollar = 28.00

·                Jan 1, 2007 the process is run and the item is appreciated by 15%.

-                 25.00 * 15% = 3.75

-                 25.00 + 3.75 = 28.75 round up to the nearest dollar = 29.00

Note

All depreciated/appreciated prices are rounded up to the nearest dollar, minimum cost is $5.00 (as defined in the depreciation/appreciation table example), and the item record cost is updated with this value.  If the item is being appreciated then the minimum cost is not used.

The Item depreciation/appreciation update can be setup to run in the AFO 642 night watchman on a regular basis.

After you have selected this option, the system will switch to the standard screen for scheduling processes.

485.2.5.2 Item depreciation/appreciation report

A report is generated to notify the library when the Item depreciation/appreciation update job was last run.  The report includes the date and time when the program started, date and time the program finished and the number of items changed.

After you have selected this option, the system will switch to the standard screen for scheduling processes.