Creating Disposal Transactions

The AM Disposal form will allow you to dispose of an Asset so it no longer appears on the Balance Sheet, e.g. where it has been sold or written-off.  Before being disposed the Asset must firstly be depreciated up to the date before the disposal date.

Assets are normally depreciated in bulk via the AM Reporting functionality, which is further detailed in the Asset Bulk Depreciation Process section.  Assets can be depreciated individually by clicking on the  button on the Main tab of the AM Asset Maintenance form, as detailed in the Amending Assets section.

The AM Disposal form can be accessed by selecting the Financials option on the Financials Web Main Menu:

Then the Asset Management menu option:

Then the AM Asset Transactions menu option:

Then the AM Disposal menu option:

The AM Disposal form will open:

This form can also be accessed by clicking on the  button on the Main tab of the AM Asset Maintenance form, as detailed in the Amending Assets section.  In this case certain fields will be populated from the Asset on the AM Asset Maintenance form:

A  button will also be available - clicking on this button will open the AM Asset Book Values Before the Transaction screen, detailing values of the Main Asset Book before the Disposal transaction.  This screen is further detailed in the Asset Book Values section.

To create a Disposal transaction add the code of the Asset to be disposed to the Asset Code field, if not already populated.  Alternatively click on the Find Asset button located to the right of this field, .  This will open the AM Find Asset form allowing you to search for and select the required Asset.  This form is further detailed in the Find Asset section.

Select a code from the Disposal Transaction Code drop-down field.

A unique transaction reference will need to be added to the Reference 1 field where these are not automatically generated.  Where these are generated automatically this field can be left blank.  Please note: this field may have a different label dependent on your configuration.

Click on the  button:

The following fields may be displayed (mandatory fields are notated with a red asterisk *):

• Asset Code: This field will display the code of the Asset that is to be disposed and cannot be changed.
• Disposal Transaction Code: This field will display the transaction code for the Disposal transaction and cannot be changed.
• Reference 1: This field will contain the reference for the transaction where it has been manually added.  Where it is to be automatically generated this field will be blank.  The details in this field cannot be changed.  Please note: this field may have a different label dependent on your configuration.
• Asset Description: This field will contain the description of the Asset and cannot be changed.

At the bottom right of this field is a  button.  Clicking on this button will open the AM Asset Book Values Before the Transaction screen, detailing values of the Main Asset Book in the Asset before the Disposal transaction.  This screen is further detailed in the Asset Book Values section.

• Reference 2: This is a second reference field that can be added if required.  Dependant on your configuration this field may not be displayed.  If displayed it may have a different label and will either be a mandatory or an optional field.
• Disposal Date: This field will be set to the day after the date that the Asset was depreciated up to and cannot be changed.
• GL Posting Date: Add the date that the Disposal transaction is to be posted to the General Ledger.
• GL Year: The Year in this field will be determined by the date added to the GL Posting Date field, as detailed immediately above, and will be populated once the  button is clicked on, as detailed below.  You will not be able to change this field directly.
• GL Period: The Period in this field will be determined by the date added to the GL Posting Date field, as detailed above, and will be populated once the  button is clicked on, as detailed below.  You will not be able to change this field directly.
• Proceeds: Add an amount for any proceeds of the Asset, if required, e.g. if it is sold.  This amount will be used when calculating the gain or loss on disposal.
• Disposal Reason: Select on option from this drop-down field to provide a reason for the Disposal transaction if required.  Reasons are defined as detailed in the Reasons section within Asset Admin.
• Comments: Dependant on your configuration this field may not be displayed.  Where it is displayed it will either be a mandatory field, in which case further details on the transaction must be added, or an optional field, in which case further details may be added or it can be left blank.
• Process Parents: This option will be available where the Asset has one or more Child Assets, i.e. it is a Parent Asset.  Where it is available it will be selected by default.  Whether the Asset is a Parent Asset will also be detailed at the top of the from:

Please note: the number of Children in this field will not include any Child Assets that have been Disposed or have been Cancelled.

Where this option is selected this Asset, i.e. the Parent Asset, will be disposed.  This option can be deselected where only the Child Assets are to be disposed - some of the fields detailed above will be used when processing Child Assets such as the Disposal Reason and Comments.

• Process Children: This option will be available where the Asset has one or more Child Assets, i.e. it is a Parent Asset.  Where it is available the option will not be selected.  Select this option to include the Child Assets for disposal.

Where both the Parent and its Children are selected to be disposed there will be the option to dispose of any Child Asset that has a Status of  at the same time as the Parent is disposed.

Please note: Only Child Assets that have not been Disposed or Cancelled will be processed.

• Status: The will be set to  and you will not be able to change this field.

The buttons at the bottom of the form are as follows:

• : Clicking on this button will clear all the fields on the form and no Disposal transaction will be created.  The initial version of the form will be displayed where you can create a new Disposal transaction or view an existing one.
• : This button will only be enabled where the Asset is a Parent Asset, i.e. it has one or more Child Assets.  Clicking on this button will open the AM Asset's Children form, displaying the Asset's Children.  This form is further detailed in the Assets Children section.
• : This button will only be enabled where the Asset is a Child Asset, i.e. it has a Parent.

Another field near the top of the form will also provide details where the Asset is a Child of another Asset:

Clicking on the  button will open the AM Asset's Parents form, displaying the Asset's Parents.  This form is further detailed in the Assets Parents section.

• : Click on this button to create the Disposal transaction:

Where the Process Child option has been selected on the form, the relevant Child Assets will be included in a Grid at the bottom of the form, i.e. those that have not already been Disposed or have not been Cancelled.

You will note that the status of the transaction has now changed to  and that further buttons are now be available at the bottom of the form.

These are:

• : Click on this button to save any further changes to the fields on the form as well as to any changes to any Grid displayed at the bottom of the form.
• : Click on this button to delete the transaction.  A message will be displayed asking for confirmation that the transaction is to be deleted.  Please note: the transaction can only be deleted where the status is set to .
• : Clicking on this button will now clear all the fields on the form as well as any Grid displayed at the bottom of the form.  The initial version of the form will be displayed where you can create a new Disposal transaction or view an existing one.
• : Clicking on this button will allow you to add a note with regard to the Disposal transaction.  This is further detailed in the Notes section.
• : Clicking on this button will open the Audit Info screen, providing audit details of the Disposal transaction.  This is further detailed in the Audit Info section.
• : Clicking on this button will complete the Disposal transaction.

Where the Process Child option has been selected on the form ensure that the Process Child column in the Grid at the bottom of the form is also selected.

Where more than one Line is included in the Grid select this column for each Child that is to be disposed.

Once the  button has been selected the form will change to a read only version of the AM Disposal form where no further changes can be made and the Status of the Disposal transaction will change to  indicating that the Asset has been disposed.  This form is further detailed in the AM Disposal (Readonly) form section.