Perform a Mass Cost Retirement

In this example, you retire multiple assets by cost.

Enter Mass Retirement Information

1. On the Assets page, click the Retire Assets panel tab.

2. Click the Mass tab.

3. Click the Create icon.

4. Enter these values:

   Field	Value
   Book	VO US CORP
   Transaction Type	Retirement

5. Click Next.

6. On the Enter Mass Retirement page, enter these values:

   Field	Value
   Transaction Group	New Mass Retirement
   Retire Date	Today's Date

7. In the Asset Selection Criteria section, General tab, enter these values:

   Field	Value
   Asset Type	Capitalized
   Category	COMPUTER-PC
   Depreciation Method	FLAT

8. In the Retirement Details section, enter these values: (Note that when performing a mass cost retirement, you don't need to enter the number of units being retired.)

   Field	Value
   Retirement Reason	Retirement
   Retirement Convention	MONTH
   Proceeds of Sale	1000.00
   Cost of Removal	200.00

9. Click Submit.

10. Click Done.

Post the Mass Retirement Transaction

1. On the Assets page, click the Retirements infotile.

2. Click the Incomplete link.

3. Select the row with your mass retirement and click Prepare.

4. Enter your login information when prompted.

5. In the Retire Assets spreadsheet review the transactions and make any necessary changes.

6. Change the posting status to Post.

7. In the Retire Assets spreadsheet on the Pending Mass Retirements ribbon, click Post. Note the concurrent ID number.

8. Verify the status of the process in the Scheduled Processes page.

9. When the Post Mass Retirements runs successfully, run the Create Accounting process. If the Post Mass Retirements process ends in error, correct the error in the Mass Retirements batch and post the transaction again.

10. View the retirement journal entries by selecting the transaction from the Transactions tab in the Asset Inquiry page.