Retiring Financial Assets

Abandonment

Select when the asset has no resale value and it is left behind. For example, consider leasehold improvements. At the end of the lease term, the improvements are generally left behind and no removal costs are incurred when you turn over the improvement to the lessor.

Gain/loss calculations are based on the asset net book value.

Auto-Retire Fully Depr Asset

Select when the asset is fully depreciated.

Gain/loss calculations are based on the asset net book value.

Cannibalize for Other Assets

Select when the asset has been dismantled and the parts are reused within the organization. For example, if an employee reuses a monitor that is part of an unused computer, you would retire the monitor as cannibalized. Typically, cannibalized assets are partially retired. They have no proceeds and no removal costs.

Gain/loss calculations are based on the asset net book value.

Casualty Loss

Select when an asset is unintentionally destroyed. If the asset cannot be sold, you may incur removal costs disposing of it. Retiring an asset as a casualty may have tax consequences if you have tax credits and the asset is not fully depreciated.

PeopleSoft Asset Management deducts the accumulated depreciation from the retirement amount and adds the removal costs to determine the amount of the casualty loss.

Disappeared Assets

Select when an asset cannot be located and you are not sure whether the asset was abandoned or stolen. Disappeared assets have no proceeds or removal costs.

Gain/loss calculations are based on the asset net book value.

Disposal Due to Theft

Select when an asset has been stolen.

Stolen assets have no proceeds and no removal costs.

Donated to External Group

Select when an asset is donated. You typically use this option when assets are donated to nonprofit organizations for tax purposes.

PeopleSoft Asset Management deducts the accumulated depreciation from the retirement amount, treating proceeds and removal costs as appropriate, to determine the gain or loss.

Expensed

Select when an asset has adjustments to the original cost that requires reclassification from capital asset to expensed asset due to its cost. If the Capitalization Threshold feature is enabled, Asset Management automatically assigns this disposal code through the Capitalization Threshold Validation process if the original cost falls below the capitalization threshold.

See Capitalization Thresholds Page.

The accounting entry template for this disposal code reflects the loss account as the expense. Previous depreciation expense is recognized as expense too. The Interface Type is RET.

Like Kind Exchange

Select to process like-kind exchanges under U.S. federal tax code.

See Like-Kind Exchange Processing Retiring Financial Assets.

Missing Asset

Select when an asset is missing. Missing assets have no proceeds and no removal costs.

Gain/loss calculations are based on the asset net book value.

Retirement by Sale

Select if you sell an asset. (If you sell the entity that owns the asset, you must retire all assets that are owned by the entity.) You can use the interface with PeopleSoft Billing to generate the bill.

The proceeds and removal cost from the sale, less the net book value of the asset, determines the gain or loss.

Returned to Inventory

Select when the asset is returned to a common internal pool where it is available for others to use.

PeopleSoft Asset Management deducts the accumulated depreciation from the retirement amount, treating proceeds and removal costs as appropriate, to determine the gain or loss.

Scrapped Assets

Select when the asset is no longer useful and has no resale value.

The gain/loss calculations include removal costs; accumulated depreciation is deducted and then the removal costs are added to derive the amount of the gain or loss.

Traded In for another Asset

Use when you are trading one asset for another.

See Processing Trade-Ins.

PeopleSoft Asset Management deducts the accumulated depreciation from the retirement amount, treating proceeds and removal costs as appropriate, to determine the gain or loss.

Quantity

When you select a disposal code, the system automatically populates the Quantity field with the total number of units, and the Retirement Amount field with the total cost for all units. Adjust either the quantity or the cost for a partial retirement. If you adjust the number of units, the cost is recalculated. If you adjust the cost, the quantity is recalculated. When performing a full retirement, it is not necessary to adjust quantity or amount retired; enter any proceeds from the sale of this asset and any removal costs that you may have incurred. When performing a partial retirement, change either the quantity or cost that will be retired.

Removal Cost and RC Curr (removal cost currency)

Enter the amount of any cost for removal and select the currency for the cost.

Proceeds and Pr Curr (proceeds currency)

Enter the amount of the proceeds for the transaction and select the currency of the proceeds.

When you have transactions involving currencies other than base currency, click the Base Amounts and Exchange Rate icon to access the Proceeds and Removal Cost page. You can review base amounts and exchange rates. You cannot make changes on this page.

Convention

Specify the convention to use to calculate depreciation through retirement. Generally, the same depreciation convention is used to retire an asset as was used when the asset was in service. However, you can change the convention to manipulate depreciation processing. For example, assuming a calendar year, an asset retired on April 15 will be depreciated as follows:

Actual Day: (asset is depreciated through April 15)

Actual Month: (asset is depreciated through March 31)

Following Month: (asset is depreciated through April 30)

Transaction Code

Select to identify the reason for the retirement or reinstatement.

Retire Option

Select the retirement calculation option to be processed for the transaction. Options are:

• Calculate Gain/Loss

  Select to calculate gain or loss that is associated with the retirement of an asset without fully depreciating the asset. Select if assets should not be fully depreciated at retirement so that the accounting entries passed to the general ledger will include gain or loss information.

• Fully Depr no Future Expense

  Select to process the asset as fully depreciated with no future depreciation expenses, regardless of how much depreciation has actually been calculated. The accounting entries passed to the general ledger will not include gain and loss information. (This remains true as long as no proceeds or removal cost have been assigned for that particular asset.)

  This option is used generally within the utility industry for group assets and assumes that assets are fully depreciated at retirement regardless of how much depreciation has actually been calculated. Depreciation expense is debited for the full cost basis of the asset at the time of retirement, resulting in no gain or loss. Net book value (NBV) will remain, however.

• Fully Depr with Future Expense

  Select to process the asset as fully depreciated, regardless of how much depreciation has actually been calculated, but future depreciation expenses may be created. The accounting entries passed to the general ledger will not include gain and loss information. (This remains true as long as no proceeds or removal cost have been assigned for that particular asset.) The depreciation close process (AM_DPCLOSE) generates the accounting entries for any remaining expense.

For example, if you retire an asset with an original cost basis of 10,000 USD and accumulated depreciation of 8,000 USD, the NBV is 2,000 USD. When you run the Accounting Entry Creation process (AM_AMAEDIST) to create accounting entries, the system looks at the selection for the Retire Option field:

If you select Calculate Gain/Loss, the system creates the following accounting entries: Debit Accumulated Depreciation for 8,000 USD; Debit Loss for 2,000 USD; and Credit Fixed Asset for 10,000 USD.

If you select Fully Depr no Future Expense, no gain or loss is recorded, and the accounting entries are Debit Accumulated Depreciation for 10,000 USD and Credit Fixed Asset for 10,000 USD.

If you select Fully Depr with Future Expense, the accounting entries are Debit Accumulated Depreciation for 10,000 USD; Credit Fixed Asset for 10,000 USD; Debit Depreciation Expense for 2,000 USD; and Credit Accumulated Depreciation for 2,000 USD.

Retirement Amt (retirement amount)

Displays the amount of the retirement transaction in the base currency.

Base Removal Cost

Displays the base removal cost, translated to the base currency.

Base Proceeds

Displays the base proceeds, translated to the base currency.

Accum Depr (accumulated depreciation)

Displays the accumulated depreciation for the asset, which is displayed after you have run the depreciation calculation process (AM_DEPR_CALC).

Gain/Loss

Displays the amount of the gain or loss on the transaction after you run the depreciation calculation process (AM_DEPR_CALC).

Override Accum

Select this option to override accumulated depreciation for group assets.

When you select this option, the Overrided Accum (Amount) field becomes available for entry.

Overrided Accum (Amount)

Enter the accumulated depreciation amount for the group asset.

Comments

Click the Comments link to access the Retire Assets - Comments page and view or add relevant supporting comments to an asset transaction.

Attachments

Click the Attachments link to access the Retire Assets - Attachments page and view or add relevant supporting documents to an asset transaction.

ARO Settlement

Displays the actual ARO settlement amount. Note that partial AROs are possible, even if the asset is still in service.

ARO Settlement Comments

Optionally add comments regarding the ARO Settlement.

Currency

Displays the currency of the ARO Settlement.

ARO Liability

Displays the amount of the ARO liability balance that remains.

Base ARO Settlement

Displays the settlement amount in the base currency of the asset book.

Gain/Loss

Displays the difference between the ARO liability and the actual cash outflow to remove the asset is recorded as a gain or loss. The gain or loss is recorded only when the final obligation amount is recorded.

Ship from Loc (ship from location)

The default ship-from location is the asset location. If no asset location is defined, the default is the business unit location. This field is required only for business units that are VAT-enabled.

Customer ID

Enter the customer ID for the customer who is billed for the transaction. The value that is entered determines VAT values. When you enter the customer ID, default values for customer location, bill-to-location, sold-to, and ship-to information are supplied automatically, if applicable. Click the Search button to view a list of the valid customer IDs for the business unit. When you enter a customer ID, the location is set to the default location and the ship-to and sold-to Customer IDs and locations are set to the same values.

Loc (location)

Enter the location ID for the customer location that is associated with the customer ID.

Sold To Customer

Enter the customer ID for the customer that ordered and purchased the asset. This value is not necessarily the same as the value in the Customer ID field.

Sold Loc (sold location)

Enter the location ID for the customer that ordered or purchased the asset. This value is not necessarily the same as the location in the Loc field.

Ship To Customer

Enter the customer ID where the assets will be shipped. Depending on the PeopleSoft Billing interface options that you selected, this field appears when shipping information is associated with the selected customer ID. This value is not necessarily the same as the value in the Customer ID field.

Ship Loc (buyer location)

Enter the location ID associated with the ship-to customer. Customers can have several location addresses associated with them, each identified by a location number.

Create Bill

Select to generate a PeopleSoft Billing invoice when the disposal method is Retirement by Sale. This option does not appear if PeopleSoft Asset Management is not integrated with PeopleSoft Billing or if you did not enable the interface at implementation.

Comment

Enter comments for an asset.

User ID, Name and Date/Time Stamp

Displays the user ID, name, and date/time stamp related to the user who added the comment.

You can edit the date/time stamp after saving the comment.

Source

Displays the transaction source for the asset, such as adjustment, transfer, and so forth.

Add Attachment

Click this button to attach files as supporting documentation for an asset. Supply a description of the file or files that you attach.

File Name

Displays the attached file. Click the file-link to access the file.

Description

Displays a description of the file attachment when one was provided by the user.

User, Name, and Date/Time Stamp

Displays the user ID, name, and date/time stamp related to the user who added the attachment.

One to Many ID

Enter a one-to-many ID to identify the exchange.

Transaction Trade In Value/Description

For each asset that you add, enter a trade-in value and description.

Cost

85,000 USD

60,000 USD

Liability (Mortgage)

70,000 USD

30,000 USD

Accumulated Depreciation

10,000 USD

None

Use Original Cost and Basis Reduction Code

Select to exclude certain kinds of transactions from the calculation. Do this by selecting a basis reduction code (this selection is required when Use Original Cost is selected). For example, if you revalued an asset but want to exclude the revaluation from the gain/loss calculation at retirement, then you would select the basis reduction code that you set up to exclude revaluations. PeopleSoft Asset Management reverses the revaluation and calculates gain/loss using the resulting net book value.

Recalc Cost Using Index (recalculate cost using index), Index Name, and SubIndex

Select to adjust the cost of an asset, as well as any subsequent transactions, according to any index that you have set up in PeopleSoft Asset Management. For example, if you have set up an index to account for inflation, you can calculate gain/loss using the original cost and any subsequent transactions adjusted for inflation. This enables you to book the gain or loss adjusted for inflation. When you select this check box, you must enter an index and subindex to use in the recalculation.

Reference Code

Enter information to track the asset, such as retirement documentation or asset ID. This field is optional.

Include Non-Capitalized Costs

Select to include any non capitalized costs in the net book value of an asset.

Trade In Asset

Displays the ID of the new traded-in asset.

Auto-Retired

Indicates that the asset was automatically retired by the Auto-Retire process (AMRETFDA).

Voluntary and Involuntary

Select one or the other to indicate whether this is a Voluntary or Involuntary retirement. This selection is informational only

Ordinary and Extraordinary

Select to indicate how the gain or loss that results from the retirement should be reported. This selection is informational only.

Allocation Type

Select one of the following allocation types:

• Proportion: The cost of the selected child assets is divided by the cost of the parent asset to determine the percent of removal cost and proceeds to allocate. The removal cost and proceeds are then multiplied by the respective percentages to determine the allocation ((child cost / parent cost) * proceeds or removal cost).

• Prorata: This allocation type can be based on cost or quantity, depending upon your selection in the Alloc. Basis field. The total cost or quantity for all selected assets is summed. (If the Include Parent Asset check box is selected, the parent cost or quantity is also summed. For each child selected on the Child Asset page, include the cost or quantity. Then for each individual asset, the cost or quantity is divided by the summed amount to give the assets percentage of the total for all assets. This number will then be multiplied by the Removal Cost and/or Proceeds to determine that assets share of the amounts entered: ((asset cost / summed cost) * proceeds or removal cost). This can also be quantified as: (proceeds/parent cost) * child cost .

• Evenly: The amounts entered for removal cost and proceeds are distributed evenly between the selected assets (children and parent, if selected).

• Copy: The amounts entered for removal cost and proceeds are copied as is to the selected assets (children and parent, if selected).

Alloc. Basis(allocation basis)

This option is only available when the Allocation Type field value is Prorata. Select to allocate proceeds and removal cost based on:

• Cost

• Quantity

Removal Cost and RC Curr (removal cost currency)

The default value is the parent's removal cost. Retain this original value or change the removal cost to be allocated.

Proceeds and Pr Curr (proceeds currency)

The default value is the parent's proceeds. Retain this value or change the proceeds to be allocated.

Include Parent Asset

This check box retains the value of the Include Parent selection from the Child Asset page. If the check box is not selected on the Child Asset page, the selection is not available for the Proceeds and Removal Cost Allocation page. This selection determines if the parent asset's cost or quantity will be considered for the allocation chosen. This only affects the Prorata and Evenly allocation types and determines if the parent asset value changes. If this option is not selected, the parent asset will not be considered in the calculation or disbursement.

Physical Nature

Indicates whether an object is a good or a service. In many countries, you must report the sale or purchase of goods separately from services.

Ship From Country

By default, this field displays the same value that is entered in the Ship from Loc field on the Retire Assets page. This is the asset location or the PeopleSoft Asset Management business-unit location.

Ship From State

If the ship-from country is defined as tracking VAT by state or province, by default this field displays information (when available) based on the Ship from Loc field on the Retire Assets page.

Ship To Country

By default, this field displays the customer's shipping address. This field always has an initial value.

Ship To State

If the ship-to country is defined as tracking VAT by state or province, by default this field displays the information (when available) from the customer's shipping address. .

VAT Registrations

The fields in this collapsible section are:

• Reporting Country: Displays the country for which this VAT is reported. This is the VAT entity's VAT registration country, and it determines many of the VAT defaults.

• Customer Registration Country and Customer Registration ID: Display the registration country and ID of the bill-to customer.

• Customer Exception Type: Displays the exception that is granted to the customer. Options are None, Exonerated, and Suspended. This value is specified for the bill-to customer.

• Defaulting State: If the reporting country requires that VAT be tracked by state or province, this field displays the state within the reporting country that is used to retrieve values from the VAT Defaults table.

• Certificate ID: If applicable, displays the ID of the VAT exception certificate that may have been issued to the customer.

VAT Controls

• Calculate at Gross or Net: Indicates how VAT is calculated. Options are:

  • Gross: The system calculates VAT before it applies any early payment discounts.

  • Net: The system calculates VAT after it deducts early payment discounts. If two percentage discounts exist, the system uses the larger of the two when it calculates VAT. The system does not use discount amounts, only discount percentages.

    The default value comes from the VAT entity registration driver.

    Note: PeopleSoft Asset Management does not manage payment discount. Consequently, net and gross produce the same result. When the retirement transaction is passed to PeopleSoft Billing and a prompt payment discount is available on the invoice, the final VAT that PeopleSoft Billing calculates differs from the estimated VAT that PeopleSoft Asset Management calculates.

• Recalculate at Payment: Select to enable the recalculation of VAT at payment time to allow for any early payment discounts if you are calculating VAT at gross. This selection causes the system to adjust the VAT amount at the time of payment if the discount has been taken. This value is set by the VAT entity registration driver.

  If you select Net as the VAT calculation method, recalculation at payment is not permitted.

  You can select recalculation at payment if the entry is passed to PeopleSoft Billing.

• Calculation Type: The default value comes from the PeopleSoft Asset Management business unit driver. Options are:

  • Exclusive: VAT is not included in the proceeds. The VAT basis amount is equal to the proceeds amount. The system calculates the VAT amount by multiplying the VAT basis amount by the VAT rate.

  • Inclusive: VAT is included in the proceeds. First, the system calculates the VAT basis amount by dividing the proceeds amount by 1 plus the VAT rate. The system then calculates the VAT amount by taking the difference between the VAT basis amount and the proceeds amount.

    Note: When the retirement transaction is passed to PeopleSoft Billing, only the Exclusive option is allowed.

• Declaration Point: Select to indicate when VAT transaction information is recognized for reporting purposes. Options are:

  • Invoice: VAT is recognized at time of invoice.

  • Payment: VAT is recognized at time of payment.

  • Accounting: VAT is recognized at the time of accounting.

  • Delivery: VAT is recognized on delivery.

    This value is set by the VAT entity registration driver and by the defaults in the VAT hierarchy (specifically the PeopleSoft Asset Management business unit, customer, and customer location).

    Note: A VAT declaration point of payment is not valid in PeopleSoft Asset Management.

• Declaration Date: By default, displays the date of the retirement. You can override this to the actual delivery date.

• Rounding Rule: Displays the VAT rounding rule. The value comes from the VAT country driver or VAT entity registration driver definition. Values are:

  • Natural Round: Amounts are rounded normally (up or down) to the precision that is specified for the currency code. For example, for a currency that is defined with two decimal places, 157.4659 would round up to 157.47, but 157.4649 would round down to 157.46.

  • Round Down: Amounts are rounded down. For example, for a currency that is defined with two decimal places, 157.4699 would round down to 157.46.

  • Round Up: Amounts are rounded up with a rounding precision to one additional decimal place. For example, for a currency that is defined with two decimal places, 157.4659 would round up to 157.47, but 157.4609 would round down to 157.46.

VAT Treatments

Treatment: Displays the VAT treatment. Options for asset retirements are:

• Domestic Goods Sale: Sale of goods where the supplier and customer are located in the same country.

• EU Distance Sale: Sale of goods between European Union (EU) countries in which the supplier is registered in an EU country and the purchaser is not registered in an EU country. The VAT rate that is charged is the rate that applies in the supplier's country.

• EU Goods Sale: Sale of goods between EU countries.

• EU Sale (Simplification): A transaction between an intermediary and the purchaser in which a sale of goods occurs between EU countries involving three parties: the purchaser, an intermediary (bill-from) supplier, and the actual goods supplier. Each party is located in a different EU country and registered in that country but not in either of the other two countries. This VAT treatment differs from normal EU sales in that the supplier is required to print a different message on the invoice referencing the statute that applies to triangulation, rather than the one that references the statute for normal EU sales.

• No VAT Processing: Sale does not require VAT processing.

• Outside of Scope: Sale is outside the scope of VAT.

• Zero-rated Goods Export: Export of goods is subject to 0-rated VAT.

Within the PeopleSoft system, detail VAT treatment values on the transaction lines are used to apply the precise defaults that apply to the transaction lines. The treatment is determined based the rules that apply to the transaction. No VAT reporting or processing can take place without this value.

VAT Details

The fields in this collapsible section are:

• Applicability: Options are:

  • Taxable: VAT is chargeable. This may be at a 0 or non-0 rate.

  • Exempt: Item is nontaxable or exempt from VAT, and no VAT is charged.

  • Exonerated: Item is subject to exoneration from VAT.

  • Outside of Scope of VAT: Item is outside the scope of VAT, and no VAT is charged.

  • Suspended: This option is used when the purchasing organization has been granted suspension from paying VAT. This is the same as taxable at a 0 rate.

  • VAT Only: This option does not apply to PeopleSoft Asset Management; it applies in PeopleSoft Payables only when you are entering a third-party voucher and within General Ledger when you are entering a journal line against a VAT account.

  • N/A (not applicable): This is valid only for transactions that are completely non-VAT applicable.

• VAT Code: Displays the VAT code that defines the rate at which VAT is calculated for the line. These are established on the Tax Code VAT page. Select Set Up Financials/Supply Chain > Common Definitions > VAT and Intrastat > Value Added Tax.

• Tax Rate: Displays the VAT percentage.

• Transaction Type: Displays the code that categorizes and classifies the transaction for VAT reporting and accounting. These codes are established on the VAT Transaction Types page. Select Set Up Financials/Supply Chain > Common Definitions > VAT and Intrastat > Value Added Tax.

Adjust/Reset VAT Defaults

This collapsible section contains these elements:

• Adjust Affected VAT Defaults: When you change VAT defaults on this page, the VAT defaults might be associated with other unchanged VAT defaults on the page. For accuracy and consistency, click this button to have the system adjust the VAT defaults that are affected by those that you modified on this page. All changes to VAT defaults that affect other VAT defaults are retained.

  Note: Always click the Adjust Affected VAT Defaults button after changing defaults on the VAT page.

• Levels: For asset retirement, you cannot select which levels to update. The Reset option always resets the defaults at this level only.

• Reset All VAT Defaults: Click to have the system reset the VAT defaults based on the value at this level only. All changes that you made to VAT defaults will be lost.

Click the Information button to list the fields that are adjusted when you select Adjust Affected VAT Defaults.

Transaction Amount

Displays the amount of the transaction in the transaction currency. This is automatically calculated based on the proceeds amount.

Transaction Amount Base

Displays the amount of the transaction in the base currency.

Basis Amount

Displays the amount on which the VAT is calculated in the transaction currency. If VAT is calculated at net, this amount is net of any discounts.

Basis Amount Base

Displays the amount on which the VAT is calculated in the base currency. If VAT is calculated at net, this amount is net of any discounts.

Tax Rate

Displays the applicable VAT percentage.

Recorded Amount

Displays the amount of VAT that is recorded for this transaction in the transaction currency. This is an estimated amount. If PeopleSoft Asset Management is integrated with PeopleSoft Billing, this value is called the Estimated Amount.

Recorded Amount Base

Displays the amount of VAT that is recorded for the transaction in the base currency. If PeopleSoft Asset Management is integrated with PeopleSoft Billing, this value is called the Estimated Amount.

Recalculate

Click to recalculate the VAT for the line.

Business Unit

This field is required. Select a business unit from the drop-down list. Only business units that have been enabled with the auto-retire feature appear.

Book Name

Select a business unit book from the drop-down list. Only books that have been enabled with the auto-retire feature appear.

Copy Changes to Other Books

Select to keep all books in sync. The system copies the transaction to all books that are set up for an asset.

Category, From Asset, and To Asset

Select as applicable to narrow the parameters by categories or by a range of asset IDs.

Cost Limit

Select assets that cost less than or equal to the cost limit.

Low Value Assets Only

Select this check box to retrieve only low-value assets.

Clustered Assets Only

Select this check box to retrieve only clustered assets.

Trans Date (transaction date) and Acctg Date (accounting date)

Enter the applicable transaction or accounting date to define the selection criteria.

Convention

Enter a retirement convention to override the asset profile default.

Transaction Code

Select a transaction code to identify the reason for the retirement.

Reference Code

(Optional) Enter information to track the asset, such as retirement documentation or an asset ID.

Disposal Code

(Optional) Select the disposal code for all assets in the worksheet list to identify the reason for the disposal of the assets.

Retire Date

Enter a retirement date, which can be retroactive or future-dated. This date is applied to all assets in the worksheet list. The default is the current date.

Accounting Date

Enter the accounting date to be recorded if different from the current date. This date is applied to all assets in the worksheet list.

Adjust Retire Quantity By

Enter the adjust retire quantity, if desired.

Adjust Retire Amount by

Enter the adjust retire amount, if desired.

Set All

Click to apply the retirement information to all assets in the list.

Submit for Disposal, Select All, and Deselect All

Select assets for disposal individually by selecting the Dispose check box, or select (or deselect) all.

Retire Quantity and Retirement Amount

The fields are updated accordingly when you click the Set All button.

Proceeds, PR Curr (proceeds currency), Removal Cost, and RC Curr (removal cost currency)

Enter any proceeds or removal cost along with the currency in which the proceeds or costs were incurred as applicable.

Disposal Code

Select disposal codes for each asset individually by entering the code in this field.

Retire Dt

Enter the retirement date.

Detail

Click to view the Asset Details (AM_DISPOSAL_02) page.

Accounting Date

Enter the accounting date for the retirement transaction.

Trans Code (transaction code)

Enter a transaction code to be applied to each asset individually.

See Creating PeopleSoft Asset Management Business Units

Comments

Click the Comments link to access the Asset Comments page. Use this page to view or add relevant supporting comments to an asset transaction.

Attachments

Click the Attachments link to access the Asset Attachments page. You can view or add relevant supporting attachments to an asset transaction.

ARO Liability

Displays the remaining balance of the ARO Liability.

ARO Settlement

Enter the actual ARO settlement amount. Note that partial AROs are possible and the ARO Settlement may not be recorded until after an asset is disposed.

ARO Settlement Comments

(Optional) Enter information related to the ARO Settlement.

Approve

The request is approved and routed to the next approver, if applicable. Once approved by all approvers, the item has a status of Approved and is loaded to the Transaction Loader process for processing.

Deny

The request is not approved and an email notification is sent to the disposal requestor.

Hold

The request is placed on hold and the approval status is On Hold until further approval action.

Pushback

The approver has pushed back the request to the previous approver for more information.

Approver Status

Displays the approval status relative to the current user.

Approval Status

Displays the asset’s overall approval status.

Capitalized Asset

Indicates whether the asset is capitalized or non capitalized.

Select to view the approval flow diagram for the selected asset by line. You can view other approvers and add adhoc approvers from this page.

Comments

Click the Comments link to access the Asset Comments page. Use this page to view or add relevant supporting comments to an asset transaction.

Attachments

Click the Attachments link to access the Asset Attachments page. You can view or add relevant supporting attachments to an asset transaction.