Dispose Assets

Form ID: (FA505000)

By using this form, you can dispose of multiple assets simultaneously.

Form Toolbar

The form toolbar includes standard and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands are listed in the following table.

Button Description
Prepare Initializes the processing of the transfer transactions you have selected: prepares the transactions for posting, or releases the selected disposal transactions and changes their statuses to Released or Unposted, depending on whether the Automatically Release Disposal Transactions check box on the Fixed Assets Preferences (FA101000) form is selected.
Prepare All Initializes the processing of all listed transfer transactions: prepares the transactions for posting, or releases all the listed disposal transactions and changes their statuses to Released or Unposted, depending on whether the Automatically Release Disposal Transactions check box on the Fixed Assets Preferences form is selected.

Selection Area

In this area, you can specify the criteria to select the records to be displayed in the table below. You can also define the disposal parameters.

Element Description
Company/Branch

The company, branch, or company group for which you want to view information. By default, the current company or branch is selected. You can select another branch, company, or company group to which you have access. This setting is required if the Multiple Base Currencies feature is enabled on the Enable/Disable Features (CS100000) form.

Asset Class The fixed asset class to which the assets to be displayed are assigned. You can leave the box blank to display assets of all classes.
Parent Asset The parent asset to which the assets to be displayed are assigned. You can leave the box blank to display assets of all parents.
Book The book to which the assets to be displayed are assigned.
Disposal Date The disposal date for the asset, which is the date the asset is removed from service.
Disposal Period The financial period in which the asset is removed from service. The disposal period is calculated automatically based on the date you have entered as the Disposal Date, but you can select another period.
Disposal Method The way the assets were retired (for example, sold or damaged).
Total Proceeds Amount

This box is available for editing only if the Automatic option is selected in the Disposal Amount Entry box.

The total amount to be posted to the Proceeds Account for the assets being disposed of. This amount will be automatically distributed between the disposed assets in proportion to their current cost.

Proceeds Allocation The way the disposal amount is specified for the assets being disposed of. The following options are available:
  • Automatic: Select this option if you want the disposal amount to be distributed among the disposed assets automatically in proportion to their current cost. Specify the disposal amount to be distributed in the Total Proceeds Amount box.
  • Manual: Select this option to manually specify the disposal amount for each of the assets in the Proceeds Amount column in the table.
Proceeds Account The account to be used to record the proceeds from the disposal of assets. By default, this is the account defined for the fixed asset class, but you can specify a different account.
Proceeds Sub. The subaccount to be used along with the specified proceeds account.
Before Disposal The operation to be performed before disposing of the fixed asset. The following options are available:
  • Suspend: Before the asset is disposed of, the depreciation calculation will be suspended from the last depreciation period to the disposal period.
    Note:
    Depreciation will be calculated for the disposal period if the Depreciate in Disposal Period check box is selected on the Fixed Assets Preferences (FA101000) form.
  • Depreciate: The fixed asset will be depreciated up to the date of the disposal
Reason The reason for depreciation before disposal.

Table

In this table, you can view the list of fixed assets that meet the criteria you have specified in the Selection area. For all of the listed assets or only the ones you select, you can perform actions to retire the fixed assets and create (and, optionally, release) the associated transactions.

The table toolbar includes only standard buttons. For the list of standard buttons, see Table Toolbar.

Table 1. Table Columns
Column Description
Included An unlabeled check box that you can select to include the asset in processing if you click Prepare.
Branch The branch of the company to which the asset is assigned.
Asset Class The fixed asset class to which the fixed asset belongs.
Asset ID The unique identifier of the asset.
Description The description specified for the asset.
Parent Asset The parent asset to which the asset is assigned.
Basis The depreciable basis, which is the amount that is allocated over the useful life of the asset. This is a system-generated value; the amount of the depreciable basis depends on the depreciation method applied to depreciate the asset. For some methods, the basis can be equal to the acquisition cost minus the salvage amount. You can also adjust the basis amount based on the percentage of business use, the bonus amount, and the Tax 179 amount.
Proceeds Amount

The disposal amount of the asset.

This column is available for editing only if the Manual option is selected in the Disposal Amount Entry box in the Selection area.

Receipt Date The date when the asset was receipt.
Useful Life, Years The period of time (in years) the asset is expected to be used.
Fixed Assets Account The Fixed Assets account (an asset account) used to post the actual costs of the fixed asset.
Fixed Assets Sub The subaccount for the specified Fixed Assets account.
Tag Number The tag number of the asset. Depending on the settings on the Fixed Assets Preferences (FA101000) form, the tag number can be the same as the inventory ID of the asset.
Fixed Assets Account Class The account class that groups the asset accounts used for fixed assets.