Retiring Non-Financial Assets

This topic discusses how to retire a non-financial asset.

Page Name

Definition Name

Usage

Non-Financial Retire Page

ASSET_RET_NF_01

Retire non-financial assets.

Non-Financial Retire - Child Assets Page

CHILD_ASSETS

Select child assets to include in a retirement transaction that you have initiated against the parent on the Non-Financial Retire page.

This page only appears when the non-financial asset being retired is a parent asset.

Use the Non-Financial Retire page (ASSET_RET_NF_01) to retire non-financial assets.

Navigation:

Asset Management > Asset Transactions > Asset Disposal > Retire/Reinstate Non-Fin Asset > Non-Financial Retire

This example illustrates the fields and controls on the Non-Financial Retire page.

 Non-Financial Retire page

Select a Trans Code and Ret Type type. Because the asset is a non-financial asset, there is no gain or loss calculation result.

To retire the non-financial asset, click the Retire button.

Note: Nonfinancial assets and operating leased assets do not have cost information. The retirement process, therefore, only involves changing the status of the asset to Inactive (or Disposed.) In the case of an operating lease, any future lease payments are stopped.

Note: Financial transactions cannot be performed on the Lease Administration Lease Assets through Asset Management.