Deactivating Fixed Assets

Owned by sivani.sahu
Last updated: Apr 23, 2024 by Mayuresh Balaji Kamble (Unlicensed)Version comment
3 min read

You can deactivate the In-Store Assets that are lost, damaged, decommissioned, or not usable due to end of life.

To deactivate Assets:

  1. Select Asset > User > Manage Asset > Asset Inventory.
  2. On the ASSET INVENTORY page, under the SELECT THE ASSET TYPE section, click FIXED.
  3. On the selected FIXED ASSET page, the FILTERS pop-up page is displayed. Select the value for Status as In-Store and select the other required filter criteria. Click SUBMIT. For more information about fields on the FILTERS  pop-up page, see Searching Assets.
  4. The list of Assets based filter criteria is displayed. Click the Asset ID to view the Asset details. For more information, see Viewing Asset Details.
  5. Select the check box corresponding to the Asset you want to deactivate. You can deactivate multiple Assets at a time. On the ACTIONS panel, click DEACTIVATE.


    Figure:  FIXED ASSET page
  6. On the DEACTIVATE ASSET page, specify the required information and click SUBMIT. For more information about the fields on the DEACTIVATE ASSET page, see Field Description.


    Figure:  DEACTIVATE ASSET page 

Field Description

The following table describes the fields on the DEACTIVATE ASSET page:

Field

Description

Common Attachment

Upload a file common for all the Assets.

Asset ID

Displays the Asset ID to be de-activated.

Asset Code

Displays the serial number of the Asset.

Category

Displays the Asset Category. This field is displayed only when the Maker-Checker process is configured for Asset de-activation (See Configuring Asset Management Module).

Asset Cost

Displays the cost of the Asset. This field is displayed only when the Maker-Checker process is configured for Asset de-activation (See Configuring Asset Management Module).

Depreciation Reserve

Displays the depreciation reserve of the asset. This field is displayed only when the Maker-Checker process is configured for Asset de-activation (See Configuring Asset Management Module).

Reason

Select the reason for de-activating the Asset.

Remark

Specify the remark.

Deactivation Date

Select the deactivation date.

Sale Price

Specify the Sale Price.

Profit/Loss

Displays the Profit/Loss of the Asset to be de-activated. This field is displayed only when the Maker-Checker process is configured for Asset de-activation (See Configuring Asset Management Module).

Depreciation on Sale Date

Display the total depreciation amount from purchase date to sale date. Further, based on the new depreciation reserve, the Sale Price and Profit/Loss values are calculated. This field is displayed only when the Enable Depreciation Reserve Calculation up to the Sale Date check box is enabled (See Configuring Asset Management Module).

Attachment

Upload any file related to the deactivation of the Asset.

Total

This row displays the sum of total numerical values of a column such as Asset Cost,

Depreciation Reserve, Sale Price, Profit/Loss, Depreciation on Sale Date, and so on. This feature avoids the need of manual calculation when the assets are deactivated in bulk.

This row is displayed only when the Enable “Total” row to Display Total Numerical Value checkbox is enabled on the Asset Management APPLICATION SETTINGS page. For more information about how to enable this checkbox see, Configuring Asset Application Settings.

References