Business Process Diagram

Start
Retire Asset
Log into Forms (1)
(N) Asset > Asset
Workbench (2)

Process
Retirement
(N) Depreciation >
Calculate Gains &
Losses (3)

Verify Retirement
(N) Inquiry >
Transaction History
(4)

End

Oracle Fixed Assets - Asset Retirement

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Retire Asset
Retire Asset
1.

Log into Forms

Field

2.

Common

Vision Operations

Username/password

operations/welcome

Responsibility

Assets, Vision Operations (USA)

(N) Asset > Asset Workbench

Find Assets form opens

Find the asset to retire:

Field

Common

Vision Operations

Book

OPS CORP

Asset Number

Choose a specific asset *

* It is a good idea to choose an asset that has a NBV > 0. This will allow you to show
Gains/Losses calculated on disposal.

(B) Find

(B) Financial Enquiry

Point out Recoverable Cost and NBV

Close this window.

Returns you to the Assets window

(B) Retirements
Retirements form opens

Select:
Field

Common

Book

Vision
Operations

OPS CORP

Oracle Fixed Assets - Asset Retirement

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Retire Date

Any date in current fiscal year - Note: The date

must be in current fiscal year, and cannot be
before any other transaction on the asset.

Units Retired

Optional - Number of units OR

Cost Retired

Amount Note: If retiring by units the cost

will default based on the fraction of units
retired. This can be overwritten.

Retirement Type

Select from LOV these are user defined

Proceeds of Sale

Optional

Cost of Removal

Optional

Note: The Check/Invoice, Sold To and Trade in Asset fields are memo fields only and
do not integrate with Receivables or TCA.

Discuss the subcomponents option. If the asset you are retiring is a parent asset then you
will be able to see the linked subcomponents. The subcomponents will not
automatically be retired with the parent asset but you may wish to take action on these
also.

(B) Done

(B) OK
Transaction saved as Pending
Oracle Assets assigns each retirement transaction a unique Reference Number that you
can use to track the retirement.

Close Assets window.

Oracle Fixed Assets - Asset Retirement

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Process Retirement
Process Retirement
3.

(N) Depreciation > Calculate Gains and Losses

Enter:
Field

Book

(B) OK

(B) Submit

(B) OK

Common

Vision Operations

OPS CORP

Request submitted
The depreciation program will automatically process retirements, but you can still run
the Calculate Gains and Losses program to process the retirement immediately.

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Verify Retirement
Verify Retirement
4.

(N) Inquiry > Transaction History

Enter:
Field

Common

Vision Operations

Book

OPS CORP

Asset Numbers

Use asset number

from step 2

(B) Find
Transaction History form opens.

Select line Full or Partial Retirement, as appropriate

(B) Detail
Transaction Detail form opens.
The transaction history will show the period of retirement and the details screen will
show the cost information as well as the gain/loss on the retirement transaction.

Oracle Fixed Assets - Asset Retirement

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