Fixed Asset Retirements in fico

Purpose

You can post fixed asset retirements integrated with accounts receivable in Financial Accounting. In this case, the net book value of the fixed asset is compared to the sales revenue on the key date of the retirement. The profit or loss is thus determined and automatically posted to the profit and loss statement.

Prerequisites

As we are using an "old" fixed asset in this process, it is possible that someone has already tested the process and set the fixed asset to zero. You therefore need to check the values of the asset, and reverse the asset retirement, if required.

Process Flow

You can find the data for this process under .

1. To check the net book value of asset 2020
Display the Asset in the Asset Explorer. If the net book value is zero, you first need to Reverse the Asset Posting.
2. You then
Post the Asset Retirement.
3. To analyze the values of asset, you
Display the Asset Explorer.