Asset status

In Fixed Assets, an asset goes through several statuses. The status of the asset determines the actions you can perform on it. You can view the status of each asset in the Assets (tffam1500m000) session.

These are the asset statuses:

• Entered

  The asset data was entered into LN, but the asset has not yet been capitalized and is not depreciating.

  In most cases, you can edit or delete entered assets. You cannot manually delete assets if they originate from an investment transaction in Accounts Payable or the General Ledger, or if the current cost and/or the current quantity are above zero.

• Acquired

  The asset was entered and capitalized, and is eligible for depreciation.

  You cannot delete or edit an acquired asset, but you can perform transactions on it. For example, you can create an adjustment transaction to edit the asset's data, or a disposal transaction to begin the process of deleting the asset from LN.

• Disposed

  The depreciating asset was sold, transferred, donated, or otherwise disposed of, and is eligible for purging.

  You cannot edit or perform transactions on a disposed asset.

• Removed

  The depreciating asset was removed.

  After removal, an asset can still have transactions posted to the General Ledger. Remove capitalization is meant for changing some data, and then capitalize again. However, you can also use the Removed status to archive or delete assets via the Archive/Delete Disposed Assets (tffam8208m000) session. This allows you to delete assets without disposing them, which precludes disposal transactions for these assets. You can still change the status from Removed to Entered.