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Full Disposal Process for Assets

Objective: Gain an understanding of how the full disposal of Asset records is performed in Assetic.

 

The Actions Menu supports different Life Cycles (Workflows) for records at various levels in the Asset Hierarchy Tree, i.e.:

  • Functional Location

  • Asset

  • Component

  • Simple Asset Group - only available in certain Asset Categories (e.g. buildings)

  • Simple Asset

 

The current Life Cycle state can be altered for all levels in the Asset Hierarchy.

 

Users can select the current status of an Asset (displayed in green within the Actions Menu) to display a Life Cycle flowchart for the current Asset record.

 

This shows an asset that is in the "Active" state. It can be moved to any of the states that are represented with the green arrow. For disposals, the user can select 'decommissioned' then 'disposed' or they can directly dispose of an asset by selecting 'disposed'.

 

This is done from the Actions menu, by selecting the desired Status:

 

Clicking the "Disposed" button will bring up the disposal menu, where the user can now enter details specific to the disposal:

 

After populating the disposal details, select the "Proceed" button and the asset will be placed in the "Disposed" state. The asset's disposal will also be shown by being coloured red in the Asset hierarchy tree. Users can then further transition the Asset to 'Out of System' using the Actions menu if they want to remove the Asset from search results.

 

However, when Assets have Valuation information stored against their Components, the full disposal process requires more than just a status transition.

 

In order to correctly dispose of Assets, users must first dispose of the relevant Components. For this reason, the full disposal process works upwards from the Valuation Components first, disposing the Assets last of all.

 

Individual Full Disposal Process for an Asset

Financially dispose of all the Valuation Components that belong to the Components of the Asset. To do this, users must create a Disposal Valuation Record.

 

Finalize the Accounting Transactions to process the Valuation disposals.

 

Change the Asset’s Status to ‘Disposed’ (This will also change Status of all Components to ‘Disposed’). This is done using the Actions Menu.

 

Bulk Full Disposal Process for Assets

Use the Data Exchange ‘Components – Disposal Valuation’ import to dispose of all Components financially, by creating Disposal Valuations.

 

Use the Accounting module to created and process the disposal valuations in a Batch.

 

Create and Save an Advanced Search Profile which returns all the Assets that need to be disposed

 

Use the 'Assets - Transition' Bulk Operations function with that search profile to transition those Assets to the Disposed status