About Disposing of Assets

If you will be disposing of an asset, you will need to recalculate the depreciation schedule to prevent any further depreciation of the asset.

  • US & Canada - From the Vista main menu, select Equipment Management Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which you are disposing of an asset. Press F4 to select from a list of valid equipment. In the Asset field, enter the asset you are disposing or press F4 to select from a list of valid assets for the equipment. In the Month Disposed Of field, enter the month in which you disposed of the asset. This will be the last month for which depreciation is calculated. Click Calculate. The system calculates the Amount Taken for the disposed of month, then clears all remaining months greater than the disposed of month. If you are using the Declining Balance method, you will be required to enter the fiscal year-end month before recalculating the depreciation. In the Recalculation for Year Ending field, enter the fiscal year-end month and click Calculate. If using the Straight Line method, the system will automatically recalculate the current year. Depreciation will be taken for the month disposed. In EM Depreciation Processing, post depreciation as normal. If necessary, it will back out any excess amounts already taken in.
  • Australia - From the Vista main menu, select Equipment Management > Programs. Double-click the EM Asset Setup icon to open the EM Asset Setup form. In the Equipment field, enter the equipment for which you are disposing of an asset. Press F4 to select from a list of valid equipment. In the Asset field, enter the asset you are disposing or press F4 to select from a list of valid assets for the equipment. In the Date Disposed / Transferred field, enter the date you disposed of the asset or transferred the asset to a low-value pool. This is the last date through which depreciation will be calculated ClickCalculate. The system calculates the Amount Taken for the disposed of month, then clears all remaining months greater than the disposed of month. In EM Depreciation Processing, post depreciation as normal. If necessary, it will back out any excess amounts already taken in.