| # Reverse Asset Disposal (tffam1224m000) Use this session to reverse the disposal journal entries of the asset. The status of the asset and asset book changes from Disposed to Acquired. You can also reverse the disposal process, when an asset is disposed by mistake or by data error. In the Assets (tffam1500m000) session, select the asset with the status Disposed. Select Reverse Asset Disposal from the appropriate menu to reverse the disposal process of the asset. Note The reversal process of asset entries can be performed only if both of these conditions apply: The status of the asset is Disposed. The asset was not transferred before it received the Disposed status. Asset Number The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Number The description or name of the code. Asset Extension The asset number and asset extension create a unique identifier for the asset in the selected company. Asset Status The current status of the asset. This field can have the following values: Entered Acquired Disposed Removed Disposal Date The date on which the disposal of asset occurs. Default value The current date. Reason The reason code for the disposal of the asset or new disposal transaction. Reasons codes are maintained in the Reasons (tffam6550m000) session. Disposal Type Indicates the reason why a fixed asset is disposed of. ADR Disposal Type The type of ADR disposal. This field is applicable only to vintage accounts or ADR type accounts. For assets in a vintage/group account, you must select the ADR disposal type in addition to your other disposal criteria. The following are the types of ADR disposals: Ordinary: The asset status is set to Disposed in the ADR book, but the asset remains in the vintage/group account and continues to depreciate until all assets in the account are disposed. Extraordinary: The asset is removed from the vintage account and subtracts the asset's total cost, accumulated depreciation, year-to-date depreciation, and salvage value from the vintage/group account. The asset status is set to Disposed in the ADR book. If the assets with Vintage/Group account types are set to MACRS Group, then the asset must be disposed using Ordinary ADR disposal type. If you set the ADR Disposal Type as None for an asset, the disposal fails. Suppress Journal Entries If this check box is selected, the journal entries are not created in the General Ledger module for this transaction. Transaction Currency The currency in which the transaction amount is expressed. Home Currency The home currency of the transaction. From the Tools menu, choose Rotate Currency to switch home currencies. Rate The rate at which the asset is disposed. Rate Factor rate factor Proceeds Amount The amount received after the disposal transaction. Proceeds Amount The rate at which the proceeds amount is received. Dispose by The disposal of asset can be carried out using these values: Quantity: the values of the asset after disposal are displayed in quantities. Percent: the disposal is processed using percentage. Number of Lines The number of distribution lines processed for a disposal. Reverse Disposal Reverses the entries in the asset disposal journal books. Distribution Lines Starts the Distribution Lines (tffam8527m000) session. You can view the distribution line adjustment information. |