Performing Single Asset Disposals

Access the Work With Assets form.

To enter disposal information:

1. Click Find to view all assets.

   To limit your search, click the tabs in the header area of the Work With Assets form and complete the appropriate information.

   When you are searching for an asset on the Work With Assets form, the Skip To Description and Skip To Asset fields in the header area and the query-by-example fields in the detail area do not display data if asset descriptions have been translated or if the language preference is activated. However, the Description - Compressed field shows data if the descriptions have been translated; you can conduct your search through this field.

2. Select the asset that you want to dispose.

3. Select Asset Disposal from the Row menu.

4. Enter the date the asset was disposed in the Date Disposed field on the Single Asset Disposal form.

5. Complete these fields:

   • G/L Date (general ledger date)

     Identifies the financial period to which the transaction is to post. The company constants table for general accounting specifies the date range for each financial period. You can have up to 14 periods. Generally, period 14 is for audit adjustments.

   • Disposal Method

     Specify the user-defined code (UDC) (12/ES) that identifies the equipment or disposal status of an asset, such as available, down, or disposed.

   • Type of Disposal

     Enter the code that specifies the type of disposal. Disposal type determines the type of journal entries the system creates. Values are:

     1: Simple disposal with no trade in and no cash proceeds.

     2: Disposal with cash proceeds.

     3: Disposal with trade in.

     4: Disposal with trade in and cash proceeds.

6. (Optional) Complete these fields:

   • Subledger

   • Sub Type

     If you specify a subledger and subledger type in the disposal information, the asset disposal updates only the specified subledger. You can update the disposal date or leave it blank.

7. Click OK.

   Note: The batch number that is assigned by the system remains the same until you leave the asset disposal program. You can include journal entries that relate to multiple asset disposals in a single batch.

8. To accept the transaction, click Yes when prompted Is this Information Correct?

9. If you are disposing of a single subledger, click Yes or No when prompted with the message "Should the Date Disposed be Updated?"

Note: (Release 9.2 Update) If the Auto Post to G/L and FA processing option is set to 1, the system automatically posts the disposal entries to the General Accounting and Fixed Assets systems. If you leave this processing option blank, you can post disposal entries later using the General Ledger Post (R09801) and Post G/L Entries to Assets (R12800) programs.

Note: (Release 9.2 Update) Even if the Manager Approval of Input constant is turned on in the General Accounting Constants program (P0000), this setting will be overridden if the disposal entries are posted automatically.