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Unformatted text preview: click the View output button to review the results. Assign Asset to be impaired to a Cash Generating Unit
08.22 Create Impairment
- - 1.00
- Status of the Retirement is Pending The system will calculate gains and losses
for retired assets correctly.
The Calculate Gains and Losses program
will execute a ‘Retirements execution
report’ which displays the # of successes
and failures. Retire Date: 12-Sep-12 08.21 Manage Impairments Report Property T ax If units are chosen as the basis of the
retirement, the cost retired will default to
the full asset cost. Prepare asset for Full Retirement Choose File, Close Form from the Applications Menu
Navigate: Depreciation > Calculate Gains & Losses Click the Submit a new Request button
Choose single request,
Click the OK button
Choose the ‘Asset Retirements Report’ from the Name
Enter report parameters. Prepare asset for Full Retirement Mass Transactions > Retirements > Create and
In the Mass Retirements screen re-query the Mass
Retirement you wish to undo.
Enter Query [F11]
Enter the Mass Transaction Number from step 06.16 - FA-14 1.00
1.00 Retirements form is displayed Book: XXX CORP
Retire Date: 12-Sep-12 08.18 Reinstate Mass Retired Assets Calculate Asset Depreciation
(FM0480) – Tax Book 1.00 - Date in Service: (Use date in Prior period) Navigate: Assets > Asset Workbench
In the Find Assets window, enter the Asset Description to
Click the Find button
Description: MRET ASSET 1
Highlight Asset with a single click.
Asset Description: RET ASSET 1
Click the Retirements button
In the Retirements window,
Select the Corporate Book in the Book field.
Book: XXX CORP
Accept the current date for the Retire Date
Retire Date: 12-Sep-12
T ab into the Retirement Details zone.
T o perform a Full Retirement input the total number of
units in the Units Retired field or the Current Cost in the
Cost Retired field. Tab to the next field.
Units Retired: 1
Cost Retired: Defaults to 1,000
Pick a Retirement Type and input any Proceeds of Sale if
the asset was sold.
Retirement T ype: SCRAP
Click the Done button to execute the Retirement.
Proceeds of Sale: 0
Click the OK button to confirm.
Highlight Asset with a single click. The system will allow users to change the
Date in Service of the asset. Asset Description: NEWASSET 1 Select the Mass Retirements concurrent request and click
the View output button to review the results.
Close the reports window (X)
Choose File, Close Form from the Applications Menu
Choose File, Close Form from the Applications Menu to
close the Mass Retirements form.
Mass retired assets may ‘Reinstated’ before or after
running Gain/Loss or month-end Depreciation. - FA-13 1.00 The system will allow users to change the
depreciation method and life of the asset. - 08.15 Retire multiple assets using Mass Retirements Manage T ax Books 1.00 Review the Mass Reclassification Review
Report for reasonableness and accuracy. After reviewing and confirming the asse...
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This document was uploaded on 09/16/2013.
- Fall '13