Chapter 5
Cyrk Assets
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Retiring Assets
Retire an asset when it is no longer in service. You can retire an entire
asset or you can partially retire an asset.
You cannot retire an asset if you added it in the current period. Instead,
you must enter your retirement as a prior period retirement after you run
depreciation. Or if you do not want to create any journal entries, use Edit,
Delete Record from the menu in the Asset Details window to delete the
asset any time in the current period.
To FULLY retire an asset:
Step 1. Navigate to the Find Asset window.
NAssetsAsset Workbench
Step 2. Find the asset you want to retire.
Step 3. Choose Retirements.
Step 4. Choose the Book from which you want to retire the asset.
Step 5. Enter the date of the retirement.
It must be in the current fiscal year, and cannot be before any
other transaction on the asset.
Step 6. To retire the asset, enter the following:
To fully retire the asset, enter all the units or the entire cost.
Step 7. Choose the Retirement Convention.
Should default to FOLLWG MTH.
Step 8. Choose the Retirement Type from the list of values.
Examples include DISCARDED, SOLD, etc.
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Cyrk Assets
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Cyrk Assets
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Cyrk Assets
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Cyrk Assets
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Cost Range
Asset Number range
Dates in Service range
If you enter a value in more than one field, Oracle Assets includes only
those assets that meet all the selection criteria in the mass retirement.
Cyrk Assets
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Cyrk Assets
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Cyrk Assets
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