Contents of the Manage Asset Disposal Information Screen
Use the fields and options to configure the Manage Asset Disposal Information Screen.
With this screen option, users do not automatically have access to data fields in other Asset Master tabs or subtasks; such access rights must be granted by the system administrator for each subtask on a screen-by-screen basis.
- If screen rights allow you access to the Manage Asset Master Information screen, then that screen and all its tabs and subtasks are automatically accessible to you.
- If you do not have access rights to the Manage Asset Master Information screen, the system administrator can alternately grant or deny rights using the direct menu option (via the Asset Master Records menu) on a screen-by-screen basis. In this manner, each user can only access the permissible subtasks or tabs in an Asset Master record.
When you first bring up this screen, a screen prompts you to enter a search criteria.
Although the data displays in columnar form in the table window on this screen, data entry functionality and data rules for each column are identical to those corresponding field in the Disp Info tab of the Manage Asset Master Information screen, regardless of which entry screen methodology you establish for each user. You can also use the Form view option for this screen.
You cannot use this screen to add new asset records. You can enter additional optional data, change existing data, or delete existing data within the system rules already established for Asset Master records that were originally added using the Manage Asset Master Information screen and its subtasks.
On this screen, unlike maintenance table windows throughout Costpoint, the line functions in the menu bar (Execute, New Record, Clone Record, Delete and Undelete) are disabled.
- For a system-generated disposal, data is written to the fields on this screen when a disposal entered on the Manage Disposal Transactions screen is posted to the General Ledger.
- For a historical disposal that was not system-generated, you can manually enter the appropriate data during initialization, as needed, to reconcile with the General Ledger. A historical record of this nature should rarely, if ever, be necessary.
You should primarily use this screen to view disposal data for an asset record after the disposal has been posted (or after historical data has been entered during initialization).
Do not use this screen to initiate a disposal for an active, depreciable, current record. To dispose an active depreciable Asset Master record, you should always use the Manage Disposal Transactions screen. When the disposal is posted, data is written to history and displayed on this screen for all applicable books for system-processed disposals.
For non-depreciable assets for which disposals are not normally posted to the G/L (unless you have selected the Post Disposal to G/L check box on the Manage Asset Master Information screen), you can manually enter disposal data on this screen instead of having the system process them.
Disposal entries for depreciable assets can always be posted to the General Ledger. If you have indicated in the Depreciation Status group box on the Manage Asset Master Information screen that the record is Non-Depreciable, you can also select the optional Post Disposal to G/L check box to allow a disposal entry for a non-depreciable record to be posted to the General Ledger. (In the case of non-depreciable assets (for example, land), the G/L entry on disposal can consist only of debits and credits to the Cost and Gain/Loss on Disposal of Fixed Assets accounts because there is no accumulated depreciation associated with a non-depreciable asset.)
If the saved Disposal record is accessed again, however, the drop-down lists in the Record Status, Depr/Lease Status, and Depr/Lease Based On group boxes on the Manage Asset Master Information screen are disabled. In addition, edits to fields in the Cost Info, Account Info, G/L Book Info, and Other Books Info (if data previously existed) tabs/subtasks cannot be saved because they are disabled.
Alternate data entry functionality in the corresponding columns on the Manage Asset Description Information screen is also disabled, including the Record Status, Depr Status and Depr Based On columns. In addition, direct entry on the Manage Asset Cost Information, Manage Asset Account Information, Manage Asset General Ledger Book Information, Manage Asset Other Books Information and on this screen is prohibited.
You can enter original data in the Other Books Info subtask (or on the Manage Asset Other Books Information screen) for an asset with a Disposal status only if no data has previously been entered and saved. If saved data for any optional other books exists, you cannot edit data if the status is changed to Disposal.
Rule of Thumb:
- If the Disposal Entry Type column on this screen displays MANUAL, you can change column data for an Asset Master record with a Disposal status.
- If the Disposal Entry Type column displays SYSTEM, you cannot change column data on this screen.
For a disposal record that has been system-generated, you can view the disposal data on this screen after the disposal record entered on the Manage Disposal Transactions screen has been posted. In the rare instances when you have historical disposal data to enter during initialization, you can enter data on this screen at any time.
Although you can change many of the information fields on this screen at any time, use extreme caution before you proceed with data edits. Changes to this information for posted disposals, where permitted, will distort the audit trail and make reconciliations with the General Ledger more difficult.
Table Window
| Field | Description |
|---|---|
| Asset No |
This non-editable column displays the asset number assigned to this record when the asset was saved on the Manage Asset Master Information screen. |
| Item No |
This non-editable column displays the item number assigned to this record when the asset was saved on the Manage Asset Master Information screen. |
| Short Desc |
This non-editable column displays the optional short description entered for this record, if applicable. The Short Desc data may have been entered or edited on the Manage Asset Master Information screen or on the Manage Asset Description Information screen. Any edits to this column must be made on these two screens. |
| Record Status |
This column displays the record status assigned to this asset record when it was saved on the Manage Asset Master Information screen. The options available for the drop-down list are:
A record must be Active to be eligible for depreciation calculations. If you specify that a record is Inactive, the system will skip over this record for depreciation calculations and for reports that do not specify the inclusion of inactive records. If a record has been disposed or set with a record status of Disposal, your ability to change disposal data is limited. |
| Depr/Lease Status |
This non-editable column displays the system-required depreciation status assigned to this record when the asset was saved on the Manage Asset Master Information screen. The possible display options for this column are Depreciable, Non-depreciable, and Capitalize. The system default is Depreciable. A record must be Depreciable to be eligible for depreciation calculations. If a record is Depreciable, additional data will be required by the system, including a valid depreciation method and codes for valid G/L depreciation expense and accumulated depreciation account combinations. If a record is Non-depreciable, you cannot access data on the Manage Asset General Ledger Book Information and the Manage Asset Other Books Information screens for those records. If the record is Capitalize Lease assets, the user can perform data entry on this screen. Note: In many standard system reports, you can specify whether non-depreciable assets should be included among the selected records.
|
| Disposal Date |
This column displays the disposal date entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screens and subsequently posted. A disposal date is required on the Manage Disposal Transactions screen during data entry. When a disposal is posted, the disposal date from the Manage Disposal Transactions screen is written to and displays in this column. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter, or click
|
| Disposal FY, Disposal Period, Disposal Subpd |
When a disposal entered on the Manage Disposal Transactions screen is posted to the G/L, the current fiscal year, accounting period and subperiod of the posting display in these fields. Disposal data that displays in Asset Master records as a result of G/L postings is treated as a "System-Generated" (SYSTEM) disposal, and you cannot edit the data in these fields. If no postings are involved and you enter data directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in these columns. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in these columns for a Manual disposal, enter the fiscal year, accounting period and subperiod that relate to the disposal in these columns. Although there are no system validations for these columns, note that several system reports and functions use them as selection parameters. In addition, you may find that these are important fields when using Query or when you design custom reports. Because there are no system rules regarding the disposal data entered in these fields, you may want to develop some internal rules on their relationship with the actual disposal and their consistency with each other (that is the data in the Disposal Date, Disposal FY, Disposal Period, and Disposal Subpd fields). |
| Disposal Price |
This column displays the optional disposal price entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screen. Data displayed in this column may have been edited on one of the following screens:
The disposal price is not a required field on the Manage Disposal Transactions screen during data entry, and a zero disposal price displays as a default. The purpose of this field is to allow you to enter the anticipated sales price, if any, from the disposal. Note: The Manage Disposal Transaction screen calculates and display a gain/loss amount that takes into account the disposal price. The displayed gain/loss amount is the expected gain or loss based on the expected disposal price. Regardless of the gain or loss displayed on the entry screens, the BOOK VALUE from the Asset Master record is always posted as the gain or loss. The proceeds (anticipated disposal price) on a disposal are never taken into account when disposals are posted from Fixed Assets, and must be entered as a Cash Receipt or Note Receivable to supply the offset to the gain/loss account.
For this reason, because the disposal price represents only anticipated proceeds, you may prefer to leave this optional column blank to avoid distorting the displayed gain/loss data. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. Note: The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter the disposal price in this optional field.
|
| Disposal Desc |
This column displays the optional disposal description entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screen. Data displayed in this column may have been edited on one of the following screens:
A disposal description is not a required field on the Manage Disposal Transactions screen during data entry, and blanks display as a default. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter the disposal description in this field. |
| Disposal Type |
This column displays the optional disposal type entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screen. Data displayed in this column may have been edited on one of the following screens:
A disposal type is not a required field on the Manage Disposal Transactions screen during data entry, and blanks display by default. Disposal type data, although optional, is validated against disposal types set up on the Manage Disposal Types screen. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter, or click
|
| Disposal Doc No |
This column displays the optional disposal document number (or other data) entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screen. Data displayed in this column may have been edited on one of the following screens:
|
| Disposal Posted Date/Time |
This non-editable field displays the date and time that disposal data from the Manage Disposal Transactions screen was posted to the General Ledger for this Asset Master record. |
| Disp Seq No |
This non-editable field displays the Fixed Assets posting sequence number created by the system when disposal data from the Manage Disposal Transactions screens was posted to the General Ledger for this Asset Master record. |
| Disposal User ID |
This non-editable field displays the user ID that posted the disposal data from the Manage Disposal Transactions screen to the General Ledger for this Asset Master record, as applicable. |
| Disposal Entry Type |
This non-editable field indicates whether the disposal data that displays on this screen was system-generated data or manually entered. This field displays SYSTEM for system-generated data and MANUAL for historical data that was manually entered on this screen. If a record has a status of Disposal and it is marked as a system disposal instead of a manual disposal, certain columns are disabled on this screen to prevent further changes to the record. System-generated data displays in this table window as a result of postings to the General Ledger. The field data originates from the table window on the Manage Disposal Transactions screen. You should make certain that data entered on the Manage Disposal Transactions screen is accurate before you post selected disposals to the General Ledger. |
| G/L Book Depr Adj Amt |
When you enter disposal data on the Manage Disposal Transactions screens, you can also enter a positive or negative value in the Depr Adj Amt column. A depreciation adjustment is an optional, manually entered value that is used by the system in computing the gain or loss on a disposal for each book. Timing issues often require depreciation adjustment entries. This type of entry is designed to add to or reduce depreciation expense by debiting and crediting depreciation expense and accumulated depreciation, as appropriate. One of the most frequently encountered situations requiring a depreciation adjustment occurs when disposal data is communicated "after-the-fact." If, for example, you learn that an asset was disposed two months ago, you may want to use the depreciation adjustment to reverse two months of depreciation posted to the General Ledger. Note: Additional depreciation expense as an adjustment displays as a POSITIVE value in this column, because it increases (debits) the depreciation expense account(s) and increases (credits) the accumulated depreciation account during posting. Reduced depreciation expense as an adjustment displays as a NEGATIVE value in this column, because it decreases (credits) the depreciation expense account(s) and decreases (debits) the accumulated depreciation account during posting.
When a disposal is posted, the value(s) in the Depr Adj Amt columns from the Manage Disposal Transactions screen is written to and displays in this field. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter the desired value. Although you can modify this value at any time for any book in this subtask, the edit function was designed primarily for use in entering historical disposal data during initialization, and not for altering system-generated data. You should make certain that data entered on the Manage Disposal Transactions screen is accurate before you select the record for processing and posting. Edits to the depreciation adjustment in an Asset Master record for posted disposals are strongly discouraged, because these changes alter the audit trail upon which the gain or loss on the disposal was calculated. You make a depreciation adjustment to make up for too little or too much depreciation previously booked, before posting a disposal. Rather than returning to the Asset Master screen to enter and post this type of depreciation adjustment, you can enter a depreciation adjustment directly on the Manage Disposal Transactions screen. Currently, a depreciation adjustment entered in a disposal screen does not have any effect on the gain/loss posted as a result of the disposal. To preserve the audit trail for a depreciation adjustment made in a disposal screen, the depreciation adjustment only debits or credits the depreciation expense and accumulated depreciation accounts, as in a standard depreciation posting. Currently, if you have entered a depreciation adjustment on the Manage Disposal Transactions screen, you will need to manually make a final G/L entry to move the balance created in the accumulated depreciation account to the gain/loss account. Note: As a result of the G/L entry requirement in the preceding circumstances, a cleaner audit trail will result if you enter a change to depreciation (positive or negative) directly in the
Current Pd Depreciation field in the G/L Book Info tab of the Manage Asset Master Information screen or in the
Curr Pd Depreciation field on the Manage Asset General Ledger Book Information screen) and then post depreciation, rather than enter a depreciation adjustment and post it as a disposal.
|
| Book 2 (or your label) Depr Adj Amt |
This column displays the optional depreciation adjustment amount on disposal entered for this record, as applicable, when the asset was saved on the Manage Asset Master Information screen or when the disposal entry was entered or edited on the Manage Disposal Transactions screen and subsequently posted. Data displayed in this column may have been edited in the Disp Info tab of the Manage Asset Master Information record, directly on this screen, or on the Manage Disposal Transactions screen. Note: The column header displays the name for this book as established on the Configure Fixed Assets Settings screen. To edit the book name, you must do so in the Books Detail block of the Configure Fixed Assets Settings screen.
When you enter disposal data on the Manage Disposal Transactions screen, you can also enter a positive or negative value in the Book 2 (or your label) Depr Adj Amt column. A depreciation adjustment is an optional, manually entered adjustment to depreciation value that is used by the system to compute the gain or loss on a disposal for each book. Note: No postings to the General Ledger take place for optional books. The system recomputes and re-displays data as a result of the Close Fixed Assets Accounting Period process, however, just as if a posting had taken place.
The final, cumulative, "booked" amounts for the optional books for the accounting period are written to a permanent history file when you perform the Close Fixed Assets Accounting Period process. Note: Additional depreciation expense as an adjustment displays as a POSITIVE value in this column, because it increases (debits) the depreciation expense account(s) and increases (credits) the accumulated depreciation account. Reduced depreciation expense as an adjustment displays as a NEGATIVE value in this column, because it decreases (credits) the depreciation expense account(s) and decreases (debits) the accumulated depreciation account.
The value(s) in the Book 2 (or your label) Depr Adj Amt column from the Manage Disposal Transactions screen is written to and displays in this field subsequent to posting. Disposal data written back to Asset Master records as a result of postings is considered a "System-Generated" (SYSTEM) disposal, and you cannot edit data in this column. If no postings are involved and data is entered directly in Asset Master records, the disposal data is treated as a "Manual" (MANUAL) disposal. In this circumstance, you can edit data in this column. The Manual disposal entry function was designed primarily for entering historical disposal data during initialization. In the rare circumstance that such an entry or edit is necessary in this column for a Manual disposal, enter the desired value. |
| Book 3 to Book 10 (or your label) Depr Adj Amt |
Please refer to the documentation for the Book 2 (or your label) Depr Adj Amt column. |
to select, the disposal date in this column. Although there is no system validation of the disposal date, note that several system reports and functions use the disposal date as one of the selection parameters. In addition, you may find that the disposal date is an important parameter when using Query or when designing user-specific output. Because there are no system rules regarding the date entered in this column, you may want to develop some internal rules on the relationship of the date to the actual disposal and its consistency with your entries in the
to select, the disposal type in this field.