Asset Transaction

Module Guide: Asset Lifecycle Transactions

Module Location

Fixed Asset > Asset Transaction

Module Objective

The Asset Transaction module is used to record and process all significant events in an asset's lifecycle after its acquisition. This includes major transactions such as the sale of an asset (disposal), asset write-off, revaluation, or the transfer of an asset between departments.

1. Main View (Asset Transaction List)

The main page of this module displays a list of all asset lifecycle transactions that have been recorded.

View Explanation

This page is for viewing and managing all asset transactions.

• Filters: You can search for a specific document by Document Number, a date range, or Transaction Type.

• Transaction List: The table below will display all transactions that match the filters.

Button Functions

• [New]: The primary button to create a new asset transaction.

2. Steps to Record a Transaction (Example: Asset Disposal)

Let's use the most common example: selling or disposing of an asset.

Step 1: Create a New Transaction

From the Main View, click the [New] button to open the Add Asset Transaction form.

Step 2: Select the Transaction Type

On the form that appears, in the Transaction Type column, select the type of transaction to be performed. For this example, select DisposalAsset.

Step 3: Select the Asset to be Processed

1. In the + Asset List table, click the [+] icon to add a row.

2. In the Asset Code column, find and select the asset that will be sold. The system will automatically fill in the asset's current book value in the Current Value column.

Step 4: Fill in Disposal Details (Important!)

1. In the Selling Price column, enter the price at which the asset was sold.

2. The system will automatically calculate the gain or loss from the sale in the Gain or Loss column (calculated from Selling Price - Current Value).

Step 5: Confirm the Transaction

After all data is filled in, click the [Confirm] button. This action will finalize the transaction, which will:

• Deactivate or remove the asset from the active asset list.

• Automatically create the complex accounting journal entry for the asset disposal.

Tips & Important Notes

• This module is an important accounting tool to ensure the asset lifecycle is correctly recorded from start to finish.

• Ensure you select the correct Transaction Type as it will determine the accounting treatment and the journal created by the system.

• The disposal process is a complex accounting process; this module greatly helps to simplify it.