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Account for the cost to dispose a fixed asset

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The maintenance on disposal feature enables you to account for the amount spent to dispose a fixed asset (FA) as an expense. You can post operations related to spending for the disposal of a fixed asset, so that they're reflected in the FA Write-Off Act forms.

The expenses of a fixed asset disposal can be posted from general ledger journals, fixed asset journals, and purchase documents. The following procedure shows how to post the expenses for a fixed asset disposal by using the Fixed Asset General Ledger Journal.

The expenses on a fixed asset disposal can be printed in the FA Write-off Act FA-4 report and the FA Write-off Act FA-4a report.

To set up a maintenance code

  1. Choose the Lightbulb that opens the Tell Me feature. icon, enter FA Setup, and then choose the related link.
  2. In the Fixed Asset Setup window, on the General FastTab, enter a maintenance code in the On Disposal Maintenance Code field.
  3. Choose the OK button.

To post expenses on a fixed asset disposal

  1. Choose the Lightbulb that opens the Tell Me feature. icon, enter FA G/L Journals, and then choose the related link.

  2. In the Fixed Asset G/L Journal window, fill in the fields as described in the following table.

    Field Description
    Account Type Select Fixed Asset as the account type.
    Account No. Specifies the number of the fixed asset for disposal for which the expenses are made.
    FA Posting Type Select Maintenance as the fixed asset posting type.
    Maintenance Code Specifies the maintenance code that is entered in the On Disposal Maintenance Code field of the Fixed Asset Setup window.

  3. Choose the OK button.

To print a report with expenses on a fixed asset disposal

  1. Choose the Lightbulb that opens the Tell Me feature. icon, enter FA Write off Act, and then choose the related link.

  2. In the FA Write off Act window, enter the expenses that are posted for the fixed asset.

  3. Choose the Print button to print the report or choose the Preview button to view it on the screen. Choose the Cancel button to save the information without printing the report.

    Note

    If the expenses on the disposal of the fixed asset are made in advance, they are displayed on the second page of the report.

After the fixed asset write-off report is posted, it becomes the posted fixed asset write-off report.

See also

Fixed Assets

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