Fixed Asset Disposals

If you must dispose of more than one ledger (a second currency ledger, for example), you can specify which ledgers to include in the processing options of the Mass Asset Disposal program. In addition, different account information can be specified to preserve the cost and accumulated depreciation accounts, and to use a reserve account in their place. Different account information can also be used to comply with charitable deduction reporting requirements in some countries. If necessary, you can dispose of a single subledger for one or more assets.

Tax ledgers are not disposed but are carried to the end of the current year. When you do a final close, tax ledgers do not create balance forward records for the following year.

You do not have to remove the disposal date from the asset master record before you run the disposal. You can leave the disposal date blank for the disposal program, and the system uses the date from the asset master. If both the asset master record and the disposal program have blank dates, the system uses the GL date. If you do use the disposal date in the disposal program and a date exists in the asset master record, you get a message that the date exists in the asset master. The date in the asset master record is not overwritten. The disposal date and equipment status is updated only if you are disposing of records in the AA ledger.

You can void disposal entries. Use the Single Asset Disposal program to void disposal journal entries that the system creates in the Mass Disposals program. When you void disposal journal entries, the system automatically updates the Date Disposed and Equipment Status in the Asset Master File table (F1201).