Retire - Correcting Retirement and Reinstatement Errors
Director of Fixed Assets Accounting
The Director of Fixed Assets Accounting is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.
N ® Assets ® Asset Workbench
B ® Retirements
To reinstate a retired asset do the following:
1. In the Asset Workbench window, find the asset that you want to reinstate.
2. Click [Retirements].
3. Click View ® Query ® Enter (or press F11) and key the retirement number for the Retirement transaction that you want to undo. If you do not know the transaction number, you can select View ® Query ® Run (or press Ctrl-F11) and the retirement transaction will be displayed.
4. If the retirement has a status of PROCESSED, click Reinstate. If the status is PENDING, click Undo Retirement.
5. If the retirement has a status of PENDING run calculate gains and losses to change the status to PROCESSED.
How to Correct Reinstatement Errors
1. In the Asset Workbench window find the reinstated asset that you want to retire.
2. Click [Retirements] and query the asset.
3. Select the reinstatement transaction, and click [Undo Reinstatement].
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