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This page allows you to reverse a retirement. You can search and select a retirement that you want to reverse. You can search by specifying the range of codes identifying the asset and the asset tags. You can also search by specifying the group and class to which the asset belongs. The system generates a unique reversal number and nullifies the financial entries that have been posted in the respective finance book.
Select the “Reverse Retirement” link under the “Asset Disposal” business component.
The “Reverse Retirement” page appears.
The system displays the following:
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Status |
The status of the retirement. It could be “Retired”. |
Enter the following fields:
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Reversal No |
A unique number identifying the reversal of the asset retirement (Alphanumeric, 18). This number is generated and displayed by the system, when the “Reverse Retirement” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component. |
Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.
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Reversal Date |
The date on which the asset retirement is reversed (Date Format). Mandatory. The date entered in this field must be before the system date. This date must be a valid date in an “Open” or “Provisionally Closed” financial period. |
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Finance Book |
Use the drop-down list box to select the code identifying the finance book in which the retirement details have been posted. All the finance books that have been mapped to the login organization unit will be available for selection in the ascending order. |
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Numbering Type |
Use the drop-down list box to select the numbering type for the login organization unit and the “Reverse Retirement” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component. |
Enter the following fields in the “Search Criteria” group box to search for the retirement numbers that you want to reverse:
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Retirement No |
The number identifying the retirement that you want to retrieve (Alphanumeric, 18). |
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Asset Class Code |
Use the drop-down list box to select the code identifying the class to which the asset for which you want to reverse the retirement belongs. All the asset classes that have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component and that are in the “Active” status will be available for selection in the ascending order. |
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Asset Location Code |
The code identifying the location in which the asset for which you want to reverse the retirement is available (Alphanumeric, 20). This location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component and must be in the “Active” status. |
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Help facility available |
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Asset No From |
The starting code in the range of codes identifying the assets for which you want to retrieve the retirement details (Alphanumeric, 18). |
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To |
The ending code in the range of codes identifying the assets for which you want to retrieve the retirement details (Alphanumeric, 18). |
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Asset Description |
A textual description of the asset for which you want to retrieve the retirement details (Alphanumeric, 40). |
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Tag No From |
The starting code in the range of codes identifying the asset tags for which you want to retrieve the retirement details (Integer). |
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To |
The ending code in the range of codes identifying the asset tags for which you want to retrieve the retirement details (Integer). |
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Tag Description |
A textual description of the asset tag for which you want to retrieve the retirement details (Alphanumeric, 40). |
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Asset Group Code |
The code identifying the group to which the asset for which you want to retrieve the retirement details belongs (Alphanumeric, 25). The asset group must have defined in the “Create Asset Group” activity of the “Asset Type Definition” business component and must be in the “Active” status. |
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Help facility available |
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Cost Center |
The code identifying the cost center that has been mapped to the “Asset Disposal Account” (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center Element” activity of the “Cost Setup” business component. |
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Tag Cost |
The cost of the asset. |
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Cumulative Depreciation |
The cumulative depreciation of the asset. |
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Tag Book Value |
The book value of the asset, which is the difference of the original asset cost and its cumulative depreciation |
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Cap.Maint.Exp. (CME) |
The capital maintenance expenditure which represents the maintenance portion of the asset. |
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CME-Cumulative Depreciation |
The cumulative depreciation for the CME portion. |
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CME-Book Value |
The book value of CME. |
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Total-Book Value |
Tag Book Value + CME Book Value |
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Retirement Type |
Indicates the type of retirement, which could be “Sale” or “Scrap”. |
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Retirement Date |
The date on which the asset was retired. |
Click the “Search” pushbutton to retrieve the asset information.
The system displays the following in the “Asset Information” multiline based on the search criteria entered:
Note: The system retrieves all the assets that are in the “Retired” status.
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Customer |
The code identifying the customer to whom the retired asset was sold. |
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Claim Insurance |
Indicates whether an insurance claim can be raised for the asset. “Yes” or “No” is displayed. |
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Sale Value |
The value for which the asset has been sold after retirement. |
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Gain / Loss |
The profit or loss gained after the sale of the asset. |
Enter the following field in the “Asset Information” multiline:
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Remarks |
Any observations pertaining to the reversal of the retirement (Alphanumeric, 255). |
Check the box in the “Select” column of the multiline to mark a retirement number for reversal.
Note: You can reverse a retirement that is of “Sale” type if the invoice is in the “Authorized” status.
Click the “Reverse Retirement” pushbutton to reverse the retirement.
The system reverses the financial entries made during the retirement and also updates the corresponding proposal. The system saves the details of the reversal and updates the status of the retirement as “Reversed”.
For an asset class, if the usage of account code is “Capitalized Maintenance Expenses”, then the system updates all the financial entries for the asset number and tag number combination.
To proceed, carry out the following
Select the “Accounting Information” link at the bottom of the page to view the posting details of the reversal of the retirement.
