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Disposal

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On this tab the following fields can be viewed:

 

hmtoggle_plus1Apply

To capture changes on this tab, click Apply, this updates the Asset Master table with the disposal information, while the financial history record is inserted into the Asset  Financial  History table.

 

hmtoggle_plus1Completion Date

This field is the Completion Date on the Customer Order line entered in the Order Line field.

 

hmtoggle_plus1Delete

The user must have a security profile linked to the function Asset Information with an access allowed of Delete.

 

The Delete button is only enabled when a line is selected in the Depreciation List Box where the line's From Period is greater than the current financial period.

 

When the Delete button is clicked, the selected line is deleted from the Asset Depreciation table.

 

hmtoggle_plus1Disposal Date

The date will default in this field when a Customer Order Number is entered.  The date may be adjusted.

 

This is the physical date the asset is being disposed.

 

hmtoggle_plus1Disposal Method

If the current status of the asset is Active, Inactive, Inactive Depreciable or Held for Sale, this drop down will populate with SALE and SCRAP.

 

If the asset's current status is SOLD, this drop down will populate with the RETURN SALE option. The original sale journal entries will be automatically reversed.

 

If the asset's current status is SCRAPPED, this drop down will populate with the UNSCRAPPED option. The original scrapping journal entries will be automatically reversed.

 

hmtoggle_plus1Line Number

It displays the customer order line number used to sell the selected asset from the Asset Master table.

 

When adding an asset number, it is populated with the line number and Completion Date from the Order Line table where the order is a Customer Order CUST, and the Line Type is a Non-Stock NSTK, Product Sale PROD, Spares Sale SPAR or Special SPEC.

 

hmtoggle_plus1Order Number

Enter the Customer Order Number through which the asset is sold.

 

It displays the Sales Order Number from the Asset Master table.

 

When disposing an asset number, this field populates with all customer order numbers from the Order Line table where the line type is either a Non-Stock NSTK, Product Sale PROD, Spares Sale SPAR or Special SPEC, and the Customer Order Division is equal to the current asset depreciation record's division or Cost Centre's Division.

 

hmtoggle_plus1Profit Loss Code

This field specifies the profit/loss account code to be used when selling or scrapping the asset.  It displays the Account, Cost Centre and Division Code from the Account table and the Account Code and Description from the Account Codes table where:

 

The account code application equals Asset Profit Loss,

The account code status is Active A and the Status Change Date is less than or equal to the current date, or

The account code status is Suspended S and the Status Change Date is greater than the current date, and

The account code is an Income Statement or a Balance Sheet Account

 

If the Order Number field is not equal to spaces, the Profit Loss Code field is mandatory.

 

If a Division is specified on the Depreciation tab, the Profit Loss Code must be a Divisional Account.  If a Cost Centre is specified on the Depreciation tab, the Profit Loss Account must be a Divisional or Cost Centre Account.

 

When an asset is scrapped or sold, the Asset Control Code is credited.  It is recommended that the Profit Loss Code, is used on the Customer Order through which the asset is to be sold.

 

hmtoggle_plus1Sales Price

The Sales Price is calculated as the Sales price (Unit Price) on the Customer Order Line multiplied by the  quantity disposed.