Issue/Symptom/Question

We are trying to dispose of a fixed asset and I don't think it is being done correctly. We are following the reference manual however, when we went to run Revenue Recognition and close the month, the asset was not disposed of. Is there something that I am not doing properly?

Applies To

Penta for Windows

Enter Disposal Record:

Fixed Asset Management > Asset Information > Disposition Tab

Complete Disposal Process (System Option 235 set to N):

Finance & Accounting > Processing > Fixed Assets > Fixed Asset Disposal

Complete the Disposal Process (System Option 235 set to Y):

Finance & Accounting > Processing > Close Accounting Period

Resolution/Fix/Answer

• With System Option 235 set to Y, processing an accounting close will complete the disposal via the Finance & Accounting  > Processing > Close Accounting Period window

• With System Option 235 set to N, completing the disposal will have to be run as a separate process, below are the steps to take:
  
  

Step 1: Update the Fixed Asset with the disposal information via Fixed Asset Management > Asset Information > Disposition Tab

Step 2: Navigate to the Finance & Accounting > Processing > Fixed Assets > Fixed Asset Disposal window

Step 3: Enter the disposal information - Balance Sheet OU and Disposal Through Date and exit the window - the disposal will be completed

Cause

System Option 235 - Run Depr/Disposal During Close is set to N therefore, you have to complete the disposal process using the Finance & Accounting > Processing > Fixed Assets > Fixed Asset Disposal window.