| # Asset Disposal (tffam1204m000) Use this session to indicate general disposal information and distribution data for an asset. Disposals are performed on a book-by-book basis for an asset. Disposals remove an asset from LN. There are several types of disposals that can be recorded against an asset. The impact on reporting varies according to the type of disposal. An asset disposal removes an asset from service in all of an asset's related books. It also prevents the asset from accumulating any more depreciation in those books. There are six types of disposals you can make: Sale, to record that an asset has been sold. Donation, to record the charitable contribution of an asset to an organization. Abandonment, to record that an asset has been discarded. Casualty Loss, to record that an asset was damaged and is no longer useful. Theft, to record that an asset has been stolen. Trade-In, to record that an asset has been traded for a newer model. You can do this in several different sessions, depending on the type of asset and number of assets you would like to dispose. Related topics Disposing Assets Disposing Asset Books Disposal Journals 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 status of the selected asset. Disposal Date Indicates the date on which the disposal takes effect. Default value The current date. Reason Code Enter a reason code of the Disposal reason type for the new disposal transaction. Reason codes are maintained in the Reasons (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. Reason Code The description or name of the code. Disposal Type Indicates the disposal type. Default value Sale ADR Disposal Type Indicates the type of ADR disposal. This field applies only to vintage accounts or ADR type accounts. Default value None For assets in a vintage/group account, you must select the ADR disposal type in addition to your other disposal criteria. The ADR disposals types are as follows: Ordinary LN gives the asset a status of Disposed in its ADR book, but the asset remains in the vintage/group account and continues to depreciate until all assets in the account have been disposed. Extraordinary LN removes the asset 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. LN gives the asset a status of Disposed in its ADR book. Assets in a vintage account are subject to these types of disposal. Assets in a MACRS group account must be disposed of through ordinary ADR disposal. If you specify a disposal type of None for an ADR asset, the disposal will fail. Suppress Journal Entries If this check box is selected, journal entries are not created in the General Ledger module for this transaction. Transaction Currency The currency used in the transaction document. Home Currency One of a company's base currencies in which LN registers and reports amounts. In a multicurrency system, up to three home currencies can be defined: The local currency Two reporting currencies From the Tools menu, choose Rotate Currency to switch home currencies. Rate A charge or payment fixed according to a standard scale, for example, the currency rate of the transaction. Rate Factor The factor by which the amount in the transaction currency or the invoice currency is divided before LN converts it to a home currency. A rate factor is often used for currencies that have a relatively low price, for example, Korean Won. Proceeds Amount Cash or other proceeds received as a result of the disposal. Dispose by Percentage If this check box is cleared, the values are listed as quantities. If this check box is selected, the disposal is processed by percentage. Dispose by Indicates whether the asset is disposed by quantity or percent of the distribution line. Dispose by Indicates the number of distribution lines you are processing for a disposal. |