Dispose Asset Items

You can dispose asset items that are in the accepted or depreciated state.

See About General Ledger Transactions for information on the transactions created when you dispose an asset.

About partial disposal

A partial disposal creates a new asset item for the remaining portion of the disposed asset item. For example, you may have created an asset item called Computer that consists of a computer and monitor with a cost of $850.00. Later the computer monitor breaks and the computer must be partially disposed. You'll enter the monitor's value — e.g. $150 — in the Dispose Asset window. The original asset item is disposed with a cost of $150, and a new asset item is created with a value of $700. Partially disposed item costs are allocated across all values proportionally.

Dispose asset items

1. Select Asset Management from the Purchasing & Payables / Capital Assets menu. The Asset Management window opens.

2. Check the box(es) for the asset(s) on which you want to dispose items, and click Edit, or click the Asset No. link to edit a single asset. The Edit Asset window opens.

3. Check the box(es) for the asset item(s) you want to dispose, and select Dispose Asset Item, from the More menu. The Dispose Asset Item popup opens.

4. Complete the fields as described.

• Disposal Method: Select from the pull-down list. Note: Disposal methods are designated in Capital Assets Configuration.

• Disposal Date: Defaults to today's date. You may enter the real disposal date, even if that date falls in a closed period. Note: This date is recorded with the asset items, on the history tab, and is used on reports.

• Transaction Date: Defaults to today's date, but may be edited as long as the date falls within an open period of the current Capital Assets cycle since it's used for the disposal transaction.

• Amount Disposed: This field defaults to the item's current value but may be changed.

• For a full disposal, leave the current value.

• For a partial disposal, enter the amount being disposed.

• Item Cost: Read-only and displays the item's cost at acquisition.

• Comment: Optional.

5. Click Save.

• When making a full disposal, the asset item is disposed, and you're notified.

• When making a partial disposal, the Confirm Disposed popup opens.

6. Click Yes. The partial asset item is disposed, and a new asset item is added to the asset for the remaining amount. Note: You'll need to accept the new asset item. The Results window opens.

7. Click Close when you're done reviewing the results.

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