The residual value of a piece of equipment defines how much that equipment is worth today. For a machine purchased today, the residual value will equal the purchase price. However, as time goes on the actual value depreciates and the residual value drops significantly.
The residual value can be defined in one or more of the following two places:
In the definition of the Device type
In the definition of the Device subtype
The residual value of each device type is inherited by all associated device subtype definitions unless a new value is entered. For example, if you define the residual value of a device type as $800, the residual value of all device subtypes associated with that device type defaults to $800.