Steps to Process Asset DisposalThe Process Asset Disposal option is used to dispose assets tracked in Fixed Asset Inventory. With the Process Asset Disposal option, a record for each asset to dispose is entered into a batch. Each record contains the date the asset was disposed, the method of the disposal, the sale amount (if applicable), and the necessary General Ledger entries (if applicable).
When entries are saved in a batch of disposed assets, the asset records in the Asset File Maintenance option are updated to reflect the disposal information; for example, the Disposed, Disposal Date, and Disposal Type ID fields are updated. Upon posting the batch, the necessary entries post to General Ledger (from the Fixed Asset journal) to record the disposal of the asset and the current year depreciation, if applicable.