Toolbar of the Disposal Processing Form

Use toolbar options to run the disposal process and to review asset item details.

Contents

Field Description
Run After you complete the information on this form, click this option to process the disposal of the asset that you selected in the Asset field on the form.

When you click Run, the following occur:

  • A journal entry is posted automatically if you scrapped the asset item. A cash receipt is created automatically if you sold the item. You can view the posting logs in Transaction Center > Posting Logs. No transaction file or list is created.

    The journal entry records:

    • The reversal of the asset item's accumulated depreciation and depreciation basis.
    • Any gain or loss, if the asset item is not fully depreciated when it is disposed.

    The cash receipt records:

    • The cash received for the sale of the asset item.
    • The reversal of the asset item's accumulated depreciation and depreciation basis.
    • Any gain or loss, if the asset item is not fully depreciated when it is disposed.
  • The following fields on the GL Book tab in the Equipment hub are automatically updated:
    • The Asset Status field changes from Active to Disposed.
    • The disposal date that you entered on the Disposal Processing form displays in the Disposal Date field.
  • The following information is added in Asset Management > Asset Review for the asset item:
    • A row of disposal information is added to the Summary grid on the Summary tab. The Book column for the row displays Disposal. The disposal amount (accumulated depreciation that is reversed when you run disposal processing) displays in the General Ledger column and in any additional book columns you have.
    • A row of disposal information is added to the History grid on the History tab. The Transaction column in the grid displays Disposal-Sold for asset items that you sold and Disposal-Scrapped for asset items that you scrapped.
Currency This option displays only if you use multiple currencies. It is enabled only if you select Sold in the Disposal Type field on the Disposal Processing form.

Click the Currency option to open the Currency Override dialog box, and override the exchange rate when the disposal currency is different than the company's functional currency.

Asset Review After you select an asset in the Asset field on this form, click this option to open the Asset Review application (Asset Management > Asset Review), and view the information for the selected asset before you process the item's disposal. When you finish viewing the information, click OK on the Asset Review dialog box to return to the Disposal Processing form.
Parent Topic: Disposal Processing Form