Article Objective: To assist users in navigating Active Ledger & Reporting to use the bulk feature to dispose of multiple assets. Context: Active Ledger & Reporting allows you to bulk dispose assets using various methods including: at cost, at $0 value, at closing written down value (CWDV), and at a pro-rated value. Please refer to the Glossary for definitions of key terms used in this article. TABLE OF CONTENTS |
Disposing assets
To dispose a selection of assets, navigate to the Assets section and then select an Asset Group. Once a group has been selected, multi-select the assets to be disposed by selecting the tick boxes.
Once selected, click on Bulk Actions and then Dispose.
This will then open up a new pane allowing for selection of the following:
- Disposal Date
- Taxation or Accounting disposal, or both
- Search bar to search assets
- Option to select the 'Auto Assign Disposal Values' button
Disposal at Cost
Once a disposal date is selected, the user can type the cost value into a cell in the Disposal Value column to assign the cost amount as the disposal value. This will automatically feed through to the Accounting disposal value.
Disposal at CWDV
Once a disposal date is selected, the CWDV is populated for the asset at that date. The user can double click on a cell in the Disposal Value column.
Alternatively, select the Auto Assign Disposal Values button, ensuring the checkbox is selected for 'Set Disposal Value to CWDV at Disposal Date'. This will automatically feed through to the Accounting disposal value.
Disposal at $0
Once a disposal date is selected, the user can type a nil value into a cell in the Disposal Value column to assign a $0 cost amount as the disposal value. This will automatically feed through to the Accounting disposal value.
Disposal at a pro-rated value
Once a disposal date is selected, select the Auto Assign Disposal Values and untick the 'Set Disposal Value to CWDV at Disposal Date'. Once unticked, users can assign different disposal values for taxation and accounting disposal.
If the values differ, the values can be unlinked using the link icon and enter two separate values for disposal.
Final step
Once the disposal values have been assigned, select Dispose Assets.
Once disposed, assets can be viewed by selecting the advanced filter to 'Show all assets for all years'.
Once assets are disposed and you are happy with the asset register for the financial year, click Post Automated Journal.
This will automatically post a depreciation journal in the platform, including any disposals. Users can navigate to the relevant dataset and go to the Journals tab to view this journal.
See the knowledge article: Assets - posting depreciation journals for more information.
Note: In order for this journal to be posted, the asset group must be linked to a dataset and accounts must be selected for the cost, accumulated depreciation, depreciation and a gain/loss account.
See knowledge articles: Assets - overview and Assets - creating a register for more information on how to do this.