34 mass retirement you can retire a group of assets

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3.4 Mass Retirement You can retire a group of assets at one time. You enter selection criteria in the Mass Retirements window to choose the group of assets you want to retire. When you define a mass retirement, you can choose to immediately submit the concurrent request to retire the selected assets, or you can save the mass retirement definition for future submission. You can change the details of any mass retirement before you submit the concurrent request. You can also reinstate a mass retirement transaction. Note: When you perform a mass retirement, Oracle Assets creates PENDING transactions that are not PROCESSED until you run the Calculate Gains and Losses program. Process 1. Navigate to Mass Retirements window. 2. Enter the Book from which you want to retire the group of assets. 3. Enter the date for the mass retirement. You can back date retirements to a prior period in the same fiscal year, or enter a date in the current open period. You cannot enter a date in a future period. 4. Enter the Retirement Type, or reason for this mass retirement. The type you enter applies to all the assets that meet your selection criteria. 5. Enter the total Proceeds of Sale and the total Cost of Removal for the mass retirement, if any. Oracle Assets prorates these amounts across the assets you select for the mass retirement according to each asset's cost. 6. Choose whether to retire all levels of subcomponents of all parent assets that meet your mass retirement selection criteria. 7. In the Retirements region, use the Asset Type poplist to indicate whether you want to retire CIP, Capitalized, or Expensed assets. Choose the blank option to retire CIP, Capitalized, and Expensed assets. 8. Choose whether to: Retire only fully reserved assets (check the Fully Reserved - Yes check box Retire only assets that are not fully reserved (check the Fully Reserved - No check box) Retire all assets specified in the window ( do not check either of the Fully Reserved check boxes
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GreenChain Software Solutions Pvt Ltd Page 72 of 102 9 . Enter one or more of the following selection criteria for your mass retirement: General Ledger Depreciation Expense Account range, Location, Employee Name and Number, Asset Category, Asset Key, Cost Range, Asset Number range, Dates in Service range If you enter a value in more than one field, Oracle Assets includes only those assets that meet all the selection criteria in the mass retirement. For example, if you enter a location and employee, Oracle Assets includes all assets assigned to that employee AND location. Oracle Assets does not include assets in that location which are not assigned to the employee. Note: Oracle Assets selection criteria are based on an alphabetical sort. For example, if you enter an asset number range of 100 to 200, asset numbers such as 1044 or 100234 are included in the selection.
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