Dispose of assets in bulk—Fixed Assets Management

You can use the import service to dispose of multiple assets at once. Fully dispose of an asset when your organization no longer has possession of it or it’s removed from service. Only assets that are in service can be disposed of.

When you dispose of an asset, Fixed Assets Management performs the following actions:

• Changes the asset's state to Disposed.

• Calculates the gain or loss amounts and creates disposal journal entries.
  

• Records the disposal in the Disposal details section on the asset and on each depreciation schedule.

• Changes the state of depreciation schedule entries that were not posted yet to Canceled.

Before you begin

• Post all depreciation schedule entries that are on or before the disposal date.

• Verify the asset is in-service. If not, you can place the asset back in service.

• If the asset is inactive, set its status to active.

• If an asset is non-depreciable, set a journal for non-depreciable asset disposal in Fixed Assets Management configuration.

Step 1. Download the template and add data

1. Download the template file.

2. Open the file.

3. Add the IDs of the assets that you want to dispose of.

4. For the State column, enter Disposed.

5. Enter a Disposal date for each asset.

   Disposal date requirements

   The disposal date must meet the following requirements:

   • Be after the in-service date.

   • Be on or after the most recent partial disposal date, if any.

   • Be after the most recent transfer date, if any.

   If no depreciation has been posted, the disposal date must also meet the following requirements:

   • Be before the scheduled posting date of the first not posted depreciation entry across all schedules.

   If depreciation has been posted, the disposal date must also meet the following requirements:

   • Be after the actual posting date of the most recently posted depreciation entry across all schedules.

   • Be before the scheduled posting date of the next not posted depreciation entry across all schedules.

   Example 1: No posted depreciation

   In the following scenario, the valid disposal dates are from August 2nd to August 30th.

   In-service date: August 1st

   Example 1: Depreciation schedule

   Period	Scheduled posting date	Actual posting date	State
   1	August 31st	--	Not posted
   2	September 30th	--	Not posted
   3	October 31st	--	Not posted
   4	November 30th	--	Not posted
   5	December 31st	--	Not posted

   Example 2: Posted depreciation

   In the following scenario, the valid disposal dates are from December 1st to December 30th.

   In-service date: August 1st

   Example 2: Depreciation schedule

   Period	Scheduled posting date	Actual posting date	State
   1	August 31st	--	Historically posted
   2	September 30th	--	Historically posted
   3	October 31st	October 31st	Posted
   4	November 30th	November 30th	Posted
   5	December 31st	--	Not posted

6. Enter a Disposal type for each asset.

   Types of disposals

   • Sale: You receive a payment in exchange for the asset or portion of the asset.

   • Casualty loss: The asset or a portion of the asset is destroyed or damaged due to an unforeseen event or accident. No payment is received.

   • Theft: The asset or portion of the asset is stolen. No payment is received.

   • Other: The asset is disposed of for any other reason. For example, it might still be in your possession, but it has reached the end of its useful life or has no resale value. No payment is received.

7. Enter a Sales price for each asset.

   If the asset wasn’t sold, enter zero.

8. Optionally, enter comments about the disposals.

9. Optionally, enter a Disposal GL account ID if the asset does not already have one assigned.

10. Save the file.

Step 2. Import the file

1. Go to Company > Setup > Import data.

2. Select New import service.

3. Next to Assets, select Update.

4. Upload your file.

5. Map the fields and then select Continue.

   Learn about mapping fields.

6. Map the field values and then select Continue.

   Learn about mapping field values.

7. If there are any errors, review and correct your data.

   Learn about fixing errors in the import service.

8. Select Import.

Field mapping reference

If you encounter errors, verify that the fields are mapped correctly.

Field mapping

Incoming field	Destination field)
Asset ID	Asset ID
State	Disposed
Disposal date	disposal.disposalDate
Disposal type	disposal.disposalType
Sales price	disposal.salePrice
Disposal comments	disposal.comments
Disposal GL account ID	Disposal GL account ID