Auto-Generating Calculated field

Good afternoon,

I am attempting to use a calculated field that is 5 digits long. The first 2 digits are for the year and the last 3 digits I would like to have autogenerate starting from 001. I've done some research and played around with some formulas but I can't seem to get it to automatically increment upwards.

I created: concat(subStr(toString($date_entered),8,2),"",subStr(toString(add(100)),0,3)) based off of the article here:Developing a counting field based on the last number used . I would creately appreciate another pair of eyes to see if I am doing something wrong or if this isn't possible to do.

Thank you,

David