To Dispose of Multiple Assets

By using the Dispose Assets (FA505000) form, you can dispose of one asset or multiple assets at once.

You can dispose of multiple assets that are associated with the same branch if the disposal parameters are the same for all assets; the only parameter you may specify for each asset individually is the proceeds amount.

To Dispose of Multiple Assets

1. Open the Dispose Assets (FA505000) form.
2. In the Selection area, specify the selection criteria for the assets you may want to dispose of as follows:
   1. In the Branch box, select the branch the assets are associated with.
   2. Optional: In the Asset Class box, select the asset class of the assets.
   3. If you want to dispose of the components of an asset, select the parent asset in the Parent Asset box.
   4. Optional: In the Book box, select the book with which the assets are associated.

   The assets that meet the specified criteria are displayed in the table. If you don't see the asset or assets you want to dispose of, make needed changes to the selection criteria you have specified.

3. Specify the disposal parameters in the right side of the Selection area by doing the following:
   1. In the Disposal Date box, enter the date of the disposal. The current business date is used by default.
   2. In the Disposal Period box, enter the financial period of the disposal. By default, the current business period is used.
   3. To split the total amount of the proceeds among all disposed assets equally, do the following:
      1. In the Disposal Amount Entry box, select Automatic.
      2. In the Total Proceeds Amount box, type the proceeds amount gained as a result of the disposal.
   4. To enter the proceeds amount for each asset individually, in the Disposal Amount Entry box, select Manual. (You will enter these amounts in a later step.)
   5. In the Disposal Method box, select the disposal method.
   6. In the Proceeds Account box, enter the account to post proceeds from the disposal of the asset.

      By default, the system uses the proceeds account specified on the Fixed Assets Preferences (FA101000) form.

   7. In the Proceeds Subaccount box, enter the subaccount to post proceeds from the disposal of the asset.

      By default, the system uses the proceeds subaccount specified on the Fixed Assets Preferences form.

   8. If you want to depreciate the assets up to the disposal period (that is, in the current financial period), in the Before Disposal box, select Depreciate.
      Tip: The system can depreciate the assets automatically during disposal only if the system is configured to release fixed asset transactions automatically (if the Automatically Release Depreciation Transactions check box is selected on the Fixed Assets Preferences form). Otherwise, you need to manually depreciate the assets before disposal.
   9. If you want to suspend the assets before disposal, in the Before Disposal box, select Suspend.
   10. Optional: In the Reason box, type the reason for disposal.
4. To dispose of only selected assets, do the following:
   1. For each transaction you want to release, select the appropriate Selected check box.
   2. If you have opted to enter the proceeds amount for each asset manually, enter the proceeds amount in the Proceeds Amount box for each selected asset.
   3. On the form toolbar, click Prepare.
5. To dispose of all listed assets, do the following:
   1. If you have opted to enter the proceeds amount for each asset manually, enter the proceeds amount in the Proceeds Amount box for every listed asset.
   2. On the form toolbar, click Prepare All.
6. Release the resulting transactions as dictated by your company's workflow. For more information, see To Release Fixed Asset Transactions.

The status of the disposed assets is changed from Active to Disposed.

After asset disposal, the system automatically displays the following information for every asset on the General Settings tab of the Fixed Assets form: the date of disposal, the disposal method, and the proceeds amount from the disposal of the asset.