Retire - Mass Retirements
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 ® Mass Transactions ® Retirements ® Create and Reinstate
1. In the Mass Retirements window enter the book that you want to retire from.
2. Enter the mass retirement date. You cannot enter a future date.
3. Enter the Retirement Type or give a reason for this mass retirement in Comments.
4. Specify the amount for the sale proceeds and the removal cost. These amounts will be split among the eligible assets and prorated by cost.
Note: Generally proceeds and cost of removal will not be recorded in Fixed Assets.
5. In the Retirements region, use the Asset Type pop-up list to to retire CIP, Capitalized, or Expensed assets. Select the blank option to retire all.
6. Enter values for the other fields in the Retirements region to supply selection criteria for the mass retirement.
7. Click [Create] to run and review the Mass Retirements and Exception reports.
8. Click [Save] to save the mass retirement transaction for future submission.
9. To process all pending mass retirement transactions, use the Standard Request Submission to run the Calculate Gains and Losses program.
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