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Disposals (Full Asset Disposal)

There are four main reasons for disposing of an asset at any given date within a Financial Year.

  1. Authority has recognized an asset as being duplicated in the register
  2. Authority has incorrectly identified an asset as owned by itself (it is owned by another Authority)
  3. Authority has sold an asset
  4. Authority has decommissioned an asset 

1. Select asset to dispose

Click on the Search field and either type the name of the asset if known or any other identifier such as Asset ID or GIS Reference number, which will assist you in locating the existing asset in the Register, or identify using the Advanced Search facility.

2. Dispose of record

Whilst you have the asset selected, click on the red Dispose Button  from the toolbar to dispose of this asset record.

 

The System will confirm that you wish to dispose of this Asset, by disabling the asset and removing it from the Asset Register.

 

Fill in valid data in the dialogue box, which appears after clicking the Dispose Button

Note: System will not dispose of the asset until the Reason field has been populated.

If there is a buyer for the asset where either money is gained or needs to be paid by Council to dispose of the asset, then the Buyer or Proceeds fields should also be populated accordingly.

 

This is required to keep an Audit Trail.

 

Then select the OK option. You have completed the asset disposal.

3: Financial Report

By treating the Transaction in this manner, the Financial Reconciliation Report generated in myData will identify this asset as being disposed of within the current financial year under the Disposals Heading.

 

It will identify the asset's Written Down Value, which was recorded against that Asset at the time of its disposal.

Details about Loss on Disposal etc can be viewed in the Disposal Report.

4: Viewing Disposed Assets

Disposed assets can be viewed by checking the Show Disposed Assets toggle at the bottom of the Navigation Tree panel.

 

Disposed assets are then shown in Red.

 

Disposed asset details.

5. Revive Disposed Asset

If a user has disposed an asset by mistake, then it can be reinstated (if the transaction is still within the current Financial Year) by clicking on 'Revive this Asset' as shown;

 

By confirming 'Yes' on above screen, following screen will appear and user has to populate valid audit details and asset will be back to current.