How are asset disposals handled?

Asset disposal can be carried out manually by posting all of the relevant journals in Ledger Entry (LEN). However, the SunSystems Fixed Asset Register can automatically post the relevant Profit & Loss and Balance Sheet transactions, so that you need only enter the sale proceeds.

Note: Do not remove the asset static data if sales proceeds are to be posted after disposal. The asset sale proceeds posting does not need to contain an asset marker.

Assets are marked for disposal by setting the asset status to Ready to Disposal. You can do this for a range of assets using Asset Disposal Selection (FAE). If you are disposing of a single asset, you can mark it for disposal manually. Use Asset Records (FAS) to change the asset status to Ready for Disposal.

Asset Disposal (FAD) generates the relevant postings, reports the postings, and optionally removes the asset code from the transaction.

Asset Part Disposals

If you are using asset quantities, you can dispose of part of an asset's quantity using Asset Part Disposal (FAF). The relevant postings are generated and reported; the asset quantity is reduced appropriately, and the asset remains active (unless the entire quantity of the asset is disposed of).