When an asset has come to the end of it's useful life, you can finalise the asset. Pinnacle has three different ways you can finalise an asset:
Disposal - Disposal is used to record the sale of an asset. This can also be used for any other disposal method that may occur that does not fall into one of the other two categories, as you can define your own disposal types.
Write off - Write off is used when the asset is of no further use, is broken, or is of no value. You can also write off assets if they are lost permanently. If the asset is discarded, you should use the Write off finalisation method.
Trade In - Trade in is use when you are trading in an asset, either against a new asset that you are going to record in Pinnacle, or for some other item. You can record the new asset number against the traded-in asset. You can also use this method to mark assets for future trade-in.
If you have finalised an asset, but you wish to return it to an active status, you can Recall finalised assets.
Run the Asset Module.
To dispose assets, choose Bulk Actions>Finalise>Dispose from the Asset menu
OR
To trade in assets, choose Bulk Actions>Finalise>Trade In from the Asset menu
OR
To write off assets, choose Bulk Actions>Finalise>Write Off from the Asset menu.
Pinnacle will display the appropriate Finalisation window. This window will display a browse list of assets.
Highlight the assets that you want to finalise. You can use the Filter button to narrow down the list of assets.
If you chose Disposal, click the Dispose button. Confirm that you want to dispose the assets. Pinnacle will display the Disposal Details window.
If you chose Write Off, click the Writeoff button. Confirm that you want to write off the assets. Pinnacle will display the Write off Details window.
If you chose Trade In, click the Trade In button. Confirm that you want to trade in the assets. Pinnacle will display the Trade In Details window.
Type in the Disposal, Write off or Trade In details in the appropriate window.
You can enter an amount when disposing or trading in assets. You can choose to split this amount across all the assets that you are finalising, or you can set this amount to the amount for all the assets to be finalised.
If you are trading in, you must enter a Trade In Date, or a Planned Trade In Date. If the Trade In Date is empty or is after the current date, the asset status will be changed to "To Trade In". Otherwise the status will be set to "Traded In". If you enter a Trade In Date and the date does not fall within the current financial year, the system will display a warning message.
Click the OK button.
If you are trading in assets, you can choose to enter the new Pinnacle asset numbers that the old assets are being traded in against. If you choose to enter the asset numbers, Pinnacle will display a list of the assets that you have selected for trade in, and you can type in the asset numbers that these assets are traded in for.
Pinnacle will check if the assets you are finalising have existing maintenance contracts against them, or if these assets are currently out for repair. In either case, you can choose to skip the finalisation for that asset. Otherwise, all the selected assets will be finalised.
Pinnacle will finalise the selected assets using the finalisation details you entered, and will change the status of the selected assets to Finalised. Once the finalisation is complete, Pinnacle will return to the Bulk Finalise window.
Run the Asset module.
Choose the appropriate Bulk Actions>Finalise menu option from the Asset menu for the type of finalisation you want to carry out. Highlight the single asset that you wish to finalise.
OR
Open the asset that you want to finalise. Choose the appropriate Bulk Actions>Finalise menu from the Asset menu for the type of finalisation you want to carry out. Pinnacle will open the Bulk Finalise window and will automatically highlight the asset that was open.
OR
Open the asset that you want to finalise. Choose the appropriate Finalise option from the Assets menu or from the popup menu for the type of finalisation you want to carry out. Pinnacle will open the Bulk Finalise window and will automatically highlight the asset that was open.
If you chose Disposal, click the Dispose button. Confirm that you want to dispose the asset. Pinnacle will display the Disposal Details window.
If you chose Write Off, click the Writeoff button. Confirm that you want to write off the asset. Pinnacle will display the Write off Details window.
If you chose Trade In, click the Trade In button. Confirm that you want to trade in the asset. Pinnacle will display the Trade In Details window.
Type in the Disposal, Write off or Trade In details in the appropriate window.
You can enter an amount when disposing or trading in assets. You can choose to split this amount across all the assets that you are finalising, or you can set this amount to the amount for all the assets to be finalised.
If you are trading in, you must enter a Trade In Date, or a Planned Trade In Date. If the Trade In Date is empty or is after the current date, the asset status will be changed to "To Trade In". Otherwise the status will be set to "Traded In". If you enter a Trade In Date and the date does not fall within the current financial year, the system will display a warning message.
Click the OK button.
If you are trading in an asset, you can choose to enter the new Pinnacle asset number that the old asset is being traded in against. If you choose to enter the asset number, Pinnacle will display the asset that you have selected for trade in, and you can type in the asset number that the asset is traded in for.
Pinnacle will check if the asset you are finalising has existing maintenance contracts against it, or if the asset is currently out for repair. In either case, you can choose to skip the finalisation for the asset. Otherwise, the selected asset will be finalised.
Pinnacle will finalise the selected asset using the finalisation details you entered, and will change the status of the selected asset to Finalised. Once the finalisation is complete, Pinnacle will return to the Bulk Finalise window.
When you are selecting assets for finalisation, you may select head or child assets. If one of the assets that you select is a head asset or a child asset, Pinnacle will ask you to choose what you would like to do with head and child assets.
For head assets you can:
Finalise the head asset and all of its child assets
Unlink the head asset from the child assets, and continue to finalise the head asset only
Do not finalise the head asset
For child assets you can:
Unlink the child asset from the head asset, and continue to finalise the child asset
Do not finalise the child asset
Open the asset that you wish to view the finalisation details for.
Select Finalise from the Asset menu.
Pinnacle will display the finalisation details.