Closing retirement proposal

This page allows you to close a retirement proposal. You can close a retirement proposal that is in the “Active” status. The status of the proposal is updated as “Closed”. This proposal cannot be used again. You can view the details of the retirement proposal before closing the proposal. The system stores the login ID and the system date along with the closure details.

Select the “Retirement Proposal” link at the bottom of the “Select Proposal” page.

The “Close Retirement Proposal” page appears.

The system displays the following:

Proposal No	The number identifying the proposal.
Status	The status of the proposal. It must be “Active”.
	Active – indicates that the proposal has been authorized.
Proposal Date	The date on which the proposal was created.
Finance Book	The code identifying the finance book for which the proposal was created.
Proposal Description	The textual description of the proposal.
	Zoom facility available
Financial Year	The financial year for which the proposal has been created.
Retirement Mode	Indicates the method in which the asset must be retired. It could be “Sale” or “Scrap”.
	Sale – indicates that the asset can be sold when it is retired.
	Scrap – indicates that the asset can be sold as waste or junk.
Board Reference	Any comments or observations made by the board regarding the proposal.
	Zoom facility available
Board Reference Date	The date on which the proposal was referred to the board.

The system displays the following in the “Asset Information” multiline:

Asset No	The number identifying the asset for which the proposal has been created.
Asset Description	The textual description of the asset.
Tag No	The number identifying the asset tag number.
Tag Description	The textual description of the asset tag.
Asset Cost	The cost of the asset. The cost will be displayed from the “Asset Capitalization” business component.
Cumulative Depreciation	The cumulative depreciation of the asset. The cumulative depreciation of the asset will be displayed from the “Asset Depreciation Processing” business component.
WDV Amount	The asset cost minus its cumulative depreciation.. This amount will be retrieved and displayed from the “Asset Depreciation Processing” business component.
Sale Value	The sale value of the asset.

The system displays the following:

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 “Close Proposal” pushbutton to close the proposal.

The status of the proposal is updated as “Closed”.

The system updates the login ID of the user and the system date in the “Last Modified By” and “Last Modified Date”.

The system displays the following:

Created By	The login ID of the user who has created the asset proposal.
Created Date	The date on which the asset proposal was created.
Last Modified By	The login ID of the user who last modified the asset proposal.
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.