Reverse Asset Disposal (tffam1224m000)

Use this session to reverse the disposal journal entries of the asset. The status of the asset and asset book changes from Disposed to Acquired.

You can also reverse the disposal process, when an asset is disposed by mistake or by data error.

In the Assets (tffam1500m000) session, select the asset with the status Disposed. Select Reverse Asset Disposal from the appropriate menu to reverse the disposal process of the asset.

Note

The reversal process of asset entries can be performed only if both of these conditions apply:

  • The status of the asset is Disposed.
  • The asset was not transferred before it received the Disposed status.

 

Asset Number
The asset number and asset extension create a unique identifier for the asset in the selected company.
Asset Number
The description or name of the code.
Asset Extension
The asset number and asset extension create a unique identifier for the asset in the selected company.
Asset Status
The current status of the asset.

This field can have the following values:

  • Entered
  • Acquired
  • Disposed
  • Removed
Disposal Date
The date on which the disposal of asset occurs.

Default value

The current date.

Reason
The reason code for the disposal of the asset or new disposal transaction.

Reasons codes are maintained in the Reasons (tffam6550m000) session.

Disposal Type
Indicates the reason why a fixed asset is disposed of.
ADR Disposal Type
The type of ADR disposal. This field is applicable only to vintage accounts or ADR type accounts.

For assets in a vintage/group account, you must select the ADR disposal type in addition to your other disposal criteria. The following are the types of ADR disposals:

  • Ordinary: The asset status is set to Disposed in the ADR book, but the asset remains in the vintage/group account and continues to depreciate until all assets in the account are disposed.
  • Extraordinary: The asset is removed from the vintage account and subtracts the asset's total cost, accumulated depreciation, year-to-date depreciation, and salvage value from the vintage/group account. The asset status is set to Disposed in the ADR book.

If the assets with Vintage/Group account types are set to MACRS Group, then the asset must be disposed using Ordinary ADR disposal type.

If you set the ADR Disposal Type as None for an asset, the disposal fails.

Suppress Journal Entries
If this check box is selected, the journal entries are not created in the General Ledger module for this transaction.
Transaction Currency
The currency in which the transaction amount is expressed.
Home Currency
The home currency of the transaction.

From the Tools menu, choose Rotate Currency to switch home currencies.

Rate
The rate at which the asset is disposed.
Rate Factor
The factor by which the amount in the transaction currency or the invoice currency is divided before LN converts it to a home currency. A rate factor is often used for currencies that have a relatively low price, for example, Korean Won.
Proceeds Amount
The amount received after the disposal transaction.
Proceeds Amount
The rate at which the proceeds amount is received.
Dispose by
The disposal of asset can be carried out using these values:
  • Quantity: the values of the asset after disposal are displayed in quantities.
  • Percent: the disposal is processed using percentage.
Number of Lines
The number of distribution lines processed for a disposal.

 

Reverse Disposal
Reverses the entries in the asset disposal journal books.
Distribution Lines
Starts the Distribution Lines (tffam8527m000) session. You can view the distribution line adjustment information.