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• Fixed Assets Processing
Chapter 19 – Fixed Assets
Partially Dispose of Assets
If you create an asset and enter a value greater than one in the Number of Units field, you have more than one physical asset under the same code. For example, you may purchase five identical desks and create one asset for all of them. If you sell or scrap one or more of these assets in the same code, but not all of them, then you use this function to accomplish this. It works as follows:
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You specify how many units you are selling.
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You specify the sale price for the units. If you are scrapping the units, the sale price is zero.
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You create a new asset code for the sold or scrapped units.
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The new asset depreciates, in proportion to the number of units sold, for the period in which the sale occurs, and then stops.
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The old asset continues to depreciate. Its value, however, reduces in proportion to the number of units remaining. This shows on the asset as a revaluation.
To access this function, choose the Transactions...Fixed Assets...Asset Transactions menu option. On the
System tree, choose the Fixed Assets...Transactions...Asset Transactions function. Select an asset, and then click the Partial Disposal button:
The date you enter determines the period at which the partial disposal occurs.
In the Selling Value field, enter the sale value of the asset. If you are scrapping the asset, enter zero.
In the No. of Units field, enter the number of units that you are selling. The remainder stay in the original asset.
In the two Asset Code fields, enter two new asset codes, one for the asset you are disposing of, and one for the asset that continues. You can link these via the master and sub asset feature to the original asset.
