| # Mass Dispose Assets (tffam8240m000) Use this session to dispose of several depreciating assets in all of their related books from the Fixed Assets module. A mass disposal differs from asset disposal in that you can dispose of a larger number of assets and books at one time. You can mass dispose of assets at any point after asset capitalization. You can dispose of part or all of the selected assets, or you can dispose of the assets in one or all of their books. LN records journal entries for the mass disposal using the values in the assets' default books in the General Ledger module. You enter values the criteria fields, or leave them blank to perform the transaction on all assets in LN. You can process disposals to only one company at a time. LN uses the amount you enter on the distribution lines as criteria for the indicated source distribution lines. A mass disposal changes the status of all disposed books from Depreciating to Disposed. If all of the assets' books have been disposed, the status of the assets becomes Disposed. You can purge disposed assets from LN. Related topics Disposing Mass Assets Disposing Mass Asset Books Disposing Assets Disposing Asset Books Asset Number The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Extension The asset number and asset extension create a unique identifier for the asset in the selected company. Category If you want to dispose of a group of assets that share a category, specify the range of categories associated with the assets. Default Subcategory If you want to dispose of a group of assets that share a subcategory, specify the range of subcategories associated with the assets. Book Code Identifies the book associated with the asset. Book codes permit you to define the books used by assets to record transactional data. Each asset must have at least one asset-book relationship. You specify the range of books associated with the assets on which you want to perform the mass disposal. Group You specify the range of asset group codes associated with the assets on which you want to perform the mass disposal. ITC Method You specify the range of investment tax credit (ITC methods) associated with the assets on which you want to perform a mass transaction. Auto Here you can select the criteria to carry out a mass disposal. Listed Here you can select the criteria to carry out a mass disposal. New Here you can select the criteria to carry out a mass disposal. Depreciation Code The depreciation system according to which depreciation, value reduction, revaluation, and so on are calculated. You specify the range of depreciation methods associated with the group of assets on which you want to perform a mass disposal. Property Type Code You specify the range of property type codes associated with the assets on which you want to perform the mass disposal. Vintage/Group Acct You specify the range of ADR vintage or MACRS group accounts associated with the assets on which you want to perform the mass disposal. In-Service Date The date the asset is ready to be placed into service. Assets can begin depreciating after their in-service date. The in-service date can be the same as the purchase date. If the asset requires preparation before use, the in-service date can be later. An asset cannot be capitalized before its in-service date. Current Quantity You specify the range of current quantities shared by the assets on which you want to perform the mass disposal. Net Book Value The purchase value of an asset added with all revaluations and subtracted with all depreciations, adjustments, and reductions to the purchase value. The book value can be used as a base for the depreciation calculations. You specify the range of net book values shared by the assets on which you want to perform the mass disposal. Net Book Value in home currency home currency From the Tools menu, choose Rotate Currency to switch home currencies. Location You specify the location account associated with the assets on which you want to perform the mass disposal. You might have up to eight location segments set up which define the physical location of an asset. Disposal Date Date of the disposal. Default value First day of current period. Reason Code Enter a reason code of the Disposal reason type for the new disposal transactions. Reason codes are maintained in the Reason Codes (tffam6550m000) session. The reason code of a disposal transaction can be looked up in the Disposal (tffam8540s000) subsession of the Asset Book Transaction Inquiry (tffam8501m000) session. Disposal Type Indicates the reason why a fixed asset is disposed of. ADR Disposal Type If one or more of the selected assets is in a vintage or group account, indicate how the disposal of the assets'ADR books must be handled. If None or Ordinary, the asset's ADR book is given a status of Disposed, but it remains in the vintage/group account and continues depreciating with the account. If Extraordinary, the asset's ADR book values are removed from the vintage account and no longer depreciates. Suppress Journal Entries If this check box is selected, journal entries are not created in the General Ledger module for this transaction. Print Error Report If this check box is selected, an error report is printed. Transaction Currency transaction currency Home Currency home currency From the Tools menu, choose Rotate Currency to switch home currencies. Rate rate Rate Factor rate factor Proceeds Cash or other proceeds received as a result of the disposal. You can record proceeds for any type of disposal. For example, you might use the Proceeds field to record the fair market value of an asset that you disposed of through a charitable contribution. The proceeds are stored in the disposal transaction of the asset book. You can search for the proceeds in the Disposal (tffam8540s000) session, a subsession of the Asset Book Transaction Inquiry (tffam8501m000) session. Dispose by This indicates whether the asset is disposed by quantity or percentage of the distribution line. Dispose by Specify the percentage or quantity amount to dispose. |