Asset Activities

Asset Activities allow you to manage assets through its various stages.

You can perform the following functions for an asset:

Additions
- Addition will be only processed for Active Assets.
- Addition can successfully be processed for future months after depreciation.
Adjustments
Dispositions
- Assets can only be disposed within one month after depreciation.
Impairments
Manual Depreciation
Partial Dispositions
Revaluations
- Assets can only be revalued within one month after depreciation.

Note:

Activity will be only performed after the last depreciation date.
If no depreciation exits then activity date needs to be in the same month/year as the asset is Placed In Service.This is the date on which asset was put in use.

Once an activity is processed, the appropriate journal will be created in General Ledger.

If there are any INVALID General Ledger Accounts, the Activity will not be performed. Use the Asset GL Account code verification report to correct these assets.