| Asset Book Disposal (tffam1213m000) |  |
| Use this session to dispose of a book associated with an asset. When you fully dispose an asset, the asset-book entry remains on the asset. The asset is marked Disposed and stops depreciating. When you partially dispose an asset, you specify whether the disposal is by quantity or percentage cost for each book. You dispose of assets by book when you want to remove a depreciating asset from service in one or more but not all of its related books. For example, you can depreciate assets for an additional two months in your federal tax books after you take them out of service in your financial books due to timing differences in federal tax guidelines. You would dispose of the assets in their financial books but not in their federal tax books. Note You can also dispose of an asset in all of its related books at once. When you dispose of an asset by book, ERP LN verifies that depreciation has been calculated up to the period in which the disposal takes effect. For example, if you dispose of an asset in March 1999 but periodic depreciation was last calculated in December 1998, ERP LN must generate depreciation for January and February before it disposes of the asset in the indicated books. If you dispose of an asset in July 1998 but make the disposal effective for the previous February, ERP LN must reverse out any depreciation that occurred between February and the present. Related topics Disposing Asset Books Disposing Assets Disposal Journals Reverse depreciation Depreciation by location
Fields | Description
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 Book | 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. Note If you select multiple books to dispose, the book code will not display.
Book Code | The description or name of the code.
Disposal Date | ERP LN runs the disposal process on the date you input. Default value The current date.
Reason | A user-defined description that is based on a transaction and its type. Reason codes assist in selecting data for inquiry and for reporting.
Reason Code | The description or name of the code.
Disposal Type | Indicates the type of disposal.
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 ADR disposal, where ERP 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 ADR disposal, where ERP 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. ERP 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.
Print Error Report | If this check box is selected, an error report is printed.
Transaction Currency | Currency of the transaction. Related topics currency home currency
Home Currency | One of a company's base currencies in which ERP 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. The default selected brings up a rate type. The date of the transaction is needed for verification of the correct rate. You can overwrite the rate in the type, but the rate type remains the same. If you do not update the rates, the last rate will be used. You must verify the rate against the current date's rates. If the rates are incorrect, you can override them. You enter the exchange rate type in FAM Parameter (tffam0100s000). Rate and rate factor can be changed if the currency is not an EMU currency. Related topics rate factor
Rate Factor | The factor by which the amount in the transaction currency or the invoice currency is divided before ERP 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. The rate factor is set up in FAM Parameter (tffam0100s000). The rate factor can be changed if the currency is not an EMU currency. Related topics rate
Proceeds | Ordinarily, proceeds are the value entered against the cash account which is recorded in the integration scheme. Proceeds are not required to process a disposal transaction. If proceeds are entered for the disposal type Donation, it is considered to be a value of the equipment donated, and it is recorded against the charitable contribution account. This reduces the loss that can be incurred.