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This page allows you to create a retirement proposal for an asset / tag. Tell me more.
Select the “Retirement Proposal” link at the bottom of the “Create Proposal” page.
The “Create Retirement Proposal” page appears.
Enter the following fields:
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Proposal No |
A unique number identifying the proposal (Alphanumeric, 18). Mandatory. This number will be automatically generated if the “Numbering Type” in the “Document Numbering Class” business component is not set to “Manual”. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. This number is incremented from the last number available in the “Document Numbering Class” business component. |
The system displays the following:
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Status |
The status of the retirement proposal. It could be “Fresh” or “Active”. |
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Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.
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Proposal Date |
The date on which the proposal is created (Date Format). Mandatory. This date must be a valid date in the financial year. This date must not be later than the system date. |
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Finance Book |
Use the drop-down list box to select the code identifying the finance book for which the proposal is being created. All the finance books that are deployed in the company will be available for selection. The system displays “All” by default on launch of the page. |
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Numbering Type |
Use the drop-down list box to select the numbering type for the login organization unit and for the “Retired Proposal” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Numbering Class” business component. |
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You can also select “Manual” if you want to enter a budget number of your own. |
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Proposal Description |
A textual description of the proposal (Alphanumeric, 40). Mandatory. |
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Zoom facility available |
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Financial Year |
Use the drop-down list box to select the financial year for which the proposal is being created. The “Financial Year” and the corresponding “Financial Period” must be defined in the “Create Calendar” activity of the “Accounting Setup” business component. All the “Open” financial years defined for the finance book will be available for selection in the ascending order. The “Provisionally Closed” financial years present in the selected finance book will also be available for selection. The earliest “Open” financial year is displayed by default on launch of the page. |
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Retirement Mode |
Use the drop-down list box to select the method in which the asset can be retired from “Sale” or “Scrap”. |
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The system displays “Sale” by default on launch of the page. |
The system displays the following:
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Board Reference |
Any comments or observations regarding the proposal. |
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Zoom facility available |
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Board Reference Date |
The date on which the comments or observations were given by the board. |
Enter the following fields in the “Asset Information” multiline:
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Asset No |
The unique number identifying the asset (Alphanumeric, 18). Mandatory. The asset must have been defined in the “Create Simple Asset” or ‘’Create Complex Asset’’ activity of the “Asset Capitalization” business component and must be in “Active” status. |
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Press <Enter> key. |
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The system retrieves and displays the corresponding description of the asset in the “Asset Description” field. |
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Help facility available |
The system displays the following:
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Asset Description |
A textual description of the asset. |
Enter the following field in the “Asset Information” multiline:
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Tag No |
The unique number identifying the asset tag (Alphanumeric, 20). Mandatory. The asset tag number must have been the “Create Simple Asset” or ‘’Create Complex Asset’’ activity of the “Asset Capitalization” business component and must be in “Active” status. |
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Press <Enter> key. |
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The system retrieves and displays the corresponding description of the asset tag number in the “Tag Description” field. |
The system displays the following:
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Tag Description |
A textual description of the asset tag. |
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Asset Cost |
The cost of the asset. The cost will be displayed from the “Asset Capitalization” business component. |
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Cumulative Depreciation |
The cumulative depreciation the asset. The cumulative depreciation of the asset will be displayed from the “Asset Depreciation Processing” business component. |
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WDV Amount |
The depreciation amount calculated in the “Written Down Value” method. This amount will be retrieved and displayed from the “Asset Depreciation Processing” business component. |
Enter the following field in the “Asset Information” multiline:
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Sale Value |
The sale value of the asset (Decimal). |
Note: This field must not be left blank if “Sale” has been selected in the “Retirement Mode” field.
This field must be left blank if “Scrap” has been selected in the “Retirement Mode” field.
Click the “Compute Total Sale Value” pushbutton to calculate the total sale value of the assets.
The system displays the following:
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Total Sale Value |
The total sale value of the assets. This is the sum total of all the sale value of the assets. |
Click the “Create Proposal” pushbutton to create the retirement proposal.
The status of the proposal is updated as “Fresh”.
The system stores the login ID of the user and the system date in the “Created By” and “Created Date” fields.
Click the “Create and Authorize Proposal” pushbutton to create a proposal and authorize it.
The status of the proposal is updated as “Active”.
The system stores the login ID of the user and the system date in the “Created By” and “Created Date” fields.
The system displays the following:
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Created By |
The login ID of the user who has created the proposal. |
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Created Date |
The date on which the proposal is created. |
Creating retirement proposal – An overview
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This retirement proposal will not refer to a budget. A retirement proposal is created for an asset / tag. You can also mention the asset tag number associated to the asset.
This page allows you to set the mode in which the asset must be retired. An asset can be retired in two different ways. One would be through “Sale” and the other through “Scrap”. You can enter the sale value of the asset along with the asset tag. The actual sale value of the retired asset in the “Asset Disposal” business component must not be lesser than the sale value entered here. This page also allows you to select the finance book and financial year for which the retirement proposal is created. The status of the newly created retirement proposal is updated as “Fresh”.
This page also allows you to authorize the proposal immediately after creation. The status of the asset after authorization is updated as “Active”. You cannot modify the details of this retirement proposal any longer. The system stores the login ID and the system date along with the creation and authorization details.
Calculate the total sale value
An asset can be retired in two different methods. The asset can be sold or it can be scrapped.
Set the “Retirement Mode” field to “Sale” if you want to retire the asset through sale of the asset.
Set the “Retirement Mode” field to “Scrap” if you want to retire the asset by selling it as scrap.
Calculate the total sale value
You can calculate the sum total of the sale values of the assets. The system calculates and displays the sum total of the sale value.
Enter the amount in the “Sale Value” field.
Click the “Compute Total Sale Value” pushbutton to calculate the total sale value of the assets.
The system calculates and displays the total sale value in the “Total Sale Value” field.
