| Disposal Journals |  |
| ERP LN identifies data for journal creation each time you dispose of an asset in its default posting book. ERP LN creates multiple journals, depending on the type of disposal: For all types of disposals, ERP LN credits the asset account and debits the accumulated depreciation account. In sale, trade-in, casualty loss, or theft, ERP LN records the difference between the net book value and the proceeds as gain or loss to the appropriate account. In a charitable contribution, ERP LN records the difference between the net book value and the proceeds recorded by debiting the charitable contribution account with the amount of the proceeds and crediting the gain or debiting the loss to the appropriate account. In an abandonment, ERP LN debits the scrap account for the net book value. In a sale, ERP LN credits the asset account, debits accumulated depreciation, debits the proceeds account for the amount of sale, and either debits the loss account or credits the gain account. The accounts used to create the disposal journal are stored in the integration scheme. When journals are created, ERP LN performs validation on the accounts and periods affected to ensure the entry is correct. A journal is not created if the Suppress Journal Entries check box is selected. |