Disposing of Part of the Quantity of an Asset

Asset Part Disposal (FAF) can automate the procedure for disposing of part of an asset, by allowing you to specify the quantity you want to dispose of, and generating the relevant disposal postings. This can be part, or all, of the current asset quantity of the selected asset. The disposal transactions are listed in a report. For more information, see 'What is Asset Part Disposal?'

You can use Business Rules to set or validate analysis codes on the transactions generated by the part disposal. To do this, create an Event Profile that checks for a Function Code of Asset Disposal, and use a Call Point of either 00015 Populate or 00016 Validate Analysis on System Generated Transactions.

Asset Part Disposal (FAF)

Asset Code
Select the asset that you want to dispose part of.
Asset Quantity
Display only. The current asset quantity of the selected asset, as stored on the asset record.
Analysis Dimension
You can select an asset for part disposal according to its asset analysis dimensions. Leave it blank to select all dimensions.
Analysis Code From/To
These fields restrict your choice to selected analysis codes within the asset analysis dimension you have selected above. Leave these blank to select all codes.
Disposal Quantity
The quantity of the selected asset that you want to dispose of. This must be greater than zero, and cannot be more than the current asset quantity remaining on the selected asset record. If the quantity you enter equals the total asset quantity, a complete asset disposal is processed, as described in 'What is Asset Disposal?'
Part Disposal Period From/To
The period, or range of periods, for which you want to part dispose of the asset. Transactions are posted to the Part Disposal Period specified on the asset record, provided it falls within the range of periods selected here. If the Part Disposal Period on the asset record is blank, then transactions generated during the disposal are posted to the last period in the range selected here. The Part Disposal Period on the asset record is also updated with this period.
Profit and Loss Disposal Account
The profit and loss account to which the disposal transactions are posted.
Post Transactions
Select No to report on the part disposal transactions but not post them. Select Yes to post the transactions. If provisional postings are optional, you can select to post the transactions as provisional transactions.
Remove Details
This field is only displayed if you select to post the disposal transactions, and the Disposal Quantity you enter equals to the total quantity of the asset (that is, a complete asset disposal). Options available are:
  • No - select this if the asset details are not to be removed
  • Remove Transactions - select this to remove transaction details for the disposed asset from the Fixed Assets Register. They are still accessible in Financials for account inquiries and reports.
  • Remove Transactions and Assets - select this to remove transaction and asset details from the Fixed Assets Register.
Disposal Suspense Account
The account to be used if any of the transactions generated by disposal have memo type accounts. To make sure the disposal journal balances, any memo accounts are replaced by this disposal suspense account.