What additional details can be provided concerning the RMS Like Kind Exchange Process?
Step One: Batch extract and load The Like Kind Exchange application performs the like-kind exchange matching process through batch extraction and load of data from the client’s production lease accounting, rental management, or other proprietary fixed asset management application. The extract file is typically a source text file and provides like-kind properties and their attributes. Import controls and data integrity checks along with a control file is used to verify that data is imported accurately, with designated “.log” files generated by the import process to provide audit trail. Step Two: Data Update Once the initial file loading process is completed, the application updates the tables with any new information imported. Once all updates have been made, the application determines the matching eligibility of all of the assets in the system. Step Three: Property Matching After all assets have been marked as eligible or ineligible for matching, the matching process begins. During thi
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