Asset Disposals Report

Use this report to create a list of transferred asset disposals.

You can choose to use the report as-is by clicking or , or make edits to the report by clicking .

When editing the report, you can include certain user defined fields as columns. Only user defined fields with a field type of String, Editable Drop-Down List, Non-Editable Drop-Down List, Date, or Yes/No are available.

Note: If you're not familiar with the MIP Cloud Report Builder interface, see Report Builder for an introduction.

If you choose to make edits to the report, the Report Builder page will display. From this page, use the Setuptab to choose the columns you'd like to appear on the report. You can rename the columns under Column Heading.

The following fields are available to include in the report:

Disposal ID

The ID assigned to the disposal

Disposal Date

The date of the disposal

Acquisition Code An optional designation code, used to represent how an asset was acquired
Location Code An optional designation code, used to represent the physical location of the asset
Responsibility Code An optional designation code, used to represent the group or person responsible for the asset
Valuation Code An optional designation code, used to represent the method used to determine the asset's value
Category The category the asset belongs to
Asset ID The asset's assigned ID
Description The description of the asset

Original Asset ID

The ID of the original asset

  • Original Asset ID fields can be used when you want to indicate an improvement to an existing asset, or to track assets that have been reclassified or moved to a different location. It is not a required field.

Acquisition Date

The date the asset was obtained

Begin Depreciation Date

The date to begin calculating depreciation

Method

The disposal method for the asset. It can be one of the following:

  • S - Sale

  • A - Abandonment

  • L - Like-Kind Exchange

  • E - Taxable Exchange

  • I- Involuntary Conversion

  • T - Transferred

  • C- Casualty

  • R - Retirement

  • O - Other

Reason

The reason for the disposal

Full/Partial Disposal

Indicates whether the asset was a partial or full disposal

Before Disposal Cost/Basis

The cost or basis of the asset before it was disposed

Before Disposal Salvage Value

The salvage value of the asset when it is sold at the end of its usable life

Before Disposal Amount to Depreciate

The amount to depreciate (Cost or Basis minus Salvage Value)

Before Disposal Accumulated Depreciation

The accumulated depreciation amount for the asset

Before Disposal Life

The life of the asset, as entered when the asset was first added to the system

After Disposal Cost/Basis

The cost or basis of the asset after the partial disposal, if applicable

After Disposal Salvage Value

The salvage value of the asset after the partial disposal, if applicable

After Disposal Amount to Depreciate

The amount to depreciate the asset after the partial disposal, if applicable (Cost or Basis minus Salvage Value)

After Disposal Accumulated Depreciation

The accumulated depreciation amount after the partial disposal, if applicable

After Disposal Life

The remaining life of the asset after the partial disposal, if applicable

Taxable

Indicates whether the asset is taxable or not

Cost/Basis Disposed

The difference between the Before Disposal Cost or Basis and the After Disposal Cost or Basis

Accumulated Depreciation Before Disposal Depreciation

The difference between the Before Disposal Accumulated Depreciation Amount and the After Disposal Accumulated Depreciation Amount

Gain/Loss Disposed before Disposal Depreciation

The difference between the Cost or Basis Disposed amount and the Accumulated Depreciation Disposed amount

Disposal Depreciation

The depreciation calculated through the disposal process - it includes the additional months calculated between the asset's last depreciation date and disposal date

Transferred

Whether the disposal has been transferred to the general ledger, indicated by "Yes" or "No"

Distribution Code

The distribution code, based on the asset's type

Asset Account

The general ledger asset account, based on the asset's type

Accumulated Depreciation Account

The general ledger asset account for accumulated depreciation, based on the asset's type

Use the Filter tab to narrow down and define the data using the available filters.

Use the Options tab to Summarize Amounts on the report, or to implement security features.

  • Select Summarize Amounts Select to add amounts together and display one line item with the total amount. All document information must be identical for the system to add items together

  • You can secure the report so that other users cannot save their changes to it. This option can only be undone by the user that locked the report.

Use the Layout tab to change the font and page setup for a report.