Sell FA Object

Explanation

This activity is used to enter information about one or more fixed asset objects which has been sold.

Prerequisites

Before sale of an object, the following must have been completed:

• The status of the object to be sold must be Active.
• The Sell Object operation cannot be performed if the compensation is zero (0).
• A voucher type for which the function group is A and the ledger selection is GL, Affect IL must exist and it must not be connected to a book.
• The posting types FAP7, FAP8, FAP9 and FAP10 should be defined. If  the Profit/Loss from Sales check box is selected for one or several of the connected books then the posting types FAP35, FAP36, FAP37 and FAP38 must also be defined.

System Effects

As a result of this activity, the object status is changed to Sold and the Disposal Date in the General Tab will be changed to the sales date. The disposal date (sales date) of the object cannot be before the latest acquisition event date of the object. If the object is connected to one or several books then the disposal principle of the depreciation method per book determines whether the depreciations with an event date later than the disposal date is allowed to have values or not.  A voucher is created with postings in connection with the sale.

Window

Object
Objects
 

Object
Depreciation Method
Fixed Assets Books
Sell Object

Procedure

Use the following procedure to sell a fixed asset: 

1. Open the Objects or Object window.
2. Find the object(s) to be entered as sold.
3. Select the Sell Object operation.
4. Specify sales amount, sales date, and voucher date. The sales date controls when the object is de-listed from IFS/Fixed Assets, while the voucher date controls during which period the event is to be posted to the general ledger or Internal Ledger. Note: The sales date must not be before the latest acquisition date shown in the window.
5. Check that voucher type and user group are correct.
6. Use the List of Values to select a value for the Disposal Reason field.
7. Click Save. An information message will be raised asking you whether a check should be performed on the selected object(s) with respect to depreciation.
8. Click Yes if you require a check to be done. Note: If all the depreciations have been performed based on the disposal principle of the depreciation method then the sell operation continues. If not another information message will be raised asking to interrupt the process in order to perform the missing depreciations . Click Yes to continue.
9. Click No to sell the object without checking for the missing depreciations.