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This page allows you to authorize the retirement proposal. Tell me more. Tell me more.
Select the “Retirement Proposal” link at the bottom of the “Select Proposal” page.
The “Authorize Retirement Proposal” page appears.
The system displays the following:
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Proposal No |
The number identifying the proposal. |
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Status |
The status of the proposal. It must be “Fresh”. |
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Modify the following field if required:
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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. |
The system display the following
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Finance Book |
The code identifying the finance book for which the proposal has been created. |
Modify the following field if required:
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Proposal Description |
A textual description of the proposal (Alphanumeric, 40). Mandatory. |
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Zoom facility available |
The system displays the following:
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Financial Year |
The financial year for which the proposal has been created. |
Modify the following if required:
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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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Board Reference |
Any comments or observations regarding the proposal (Alphanumeric, 100). |
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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 (Date Format). |
Modify the following field 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 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 in the “Asset Information” multiline:
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Asset Description |
A textual description of the asset. |
Modify the following field if required 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 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 in the “Asset Information” multiline:
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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. |
Modify the following field if required 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 asset.
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 “Authorize” pushbutton to authorize the proposal.
The system saves the modifications made and updates the status of the proposal as “Active”.
The login ID of the user and the system date are updated in the “Last Modified By” and “Last Modified Date” field.
Click the “Return Proposal” pushbutton to return the asset proposal for modification.
The system updates the status of the proposal as “Returned”.
The login ID of the user and the system date are updated in the “Last Modified By” and “Last Modified Date” field.
The system displays the following:
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Created By |
The login ID of the user who has created the asset proposal. |
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Created Date |
The date on which the asset proposal was created. |
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Last Modified By |
The login ID of the user who last modified the asset proposal. |
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Last Modified Date |
The date on which the asset proposal was last modified. |
To proceed, carry out the following:
Select the "Attach Notes" link at the bottom of the page for attaching notes.
Authorize retirement proposal – An overview
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You can also modify the details of the proposal before authorizing it. You can modify details like the mode in which the asset must be retired. You can modify 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 modify the finance book and financial year for which the retirement proposal is modified.
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.
This page also allows you to return the retirement proposal to the user who has created it for modification. The status of the retirement proposal is updated as “Returned”. This proposal can be retrieved again for authorization after the modifications have been made. The system stores the login ID and the system date along with the modified details.
Calculate the total sale value
An asset can be retired in two different methods. The asset can be sold or it can be sold as scrap or junk. You can modify the mode of retirement that has been set earlier.
Set the “Retirement Mode” field to “Sale” if you want to change the mode of retirement of the asset from “Scrap” to “Sale”..
Set the “Retirement Mode” field to “Scrap” if you want to change the mode of retirement of the asset from “Sale” to “Scrap”..
Calculate the total sale value
You can re-calculate the sum total of the sale values of the assets. The system calculates and displays the sum total of the sale value.
Modify 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.
You can authorize a retirement proposal in this page. While authorizing the proposal you can save the modifications made. You can authorize an acquisition proposal that is in the “Fresh” status.
Modify the details of the proposal if required.
Click the “Authorize Proposal” pushbutton to save the modifications made and authorize the proposal.
The system saves the modifications made and updates the status of the proposal as “Active”. The system also stores the login ID of the user and the system date along with the modified details.
You can return a retirement proposal to the user who has created it for modification. The status of the retirement proposal is updated as “Returned”. This proposal can be retrieved again for authorization after modifications have been made.
Click the “Return Proposal” pushbutton to return the proposal.
The status of the proposal is updated as “Returned”. The system also stores the login ID of the user and the system date along with the modified details.
