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Administrator Guide
Last Updated: 2023-06-23
Steps: Dispose Assets

Steps: Dispose Assets

Set up asset disposal types.
You can dispose assets with lifecycle events for your company or company hierarchy. You can partially dispose capital assets by cost or percentage, or fully dispose expired assets to take them off your company books. For business assets capitalized from project assets, Workday makes the original project asset unavailable for adjustments when any related business assets are:
  • Part of a composite asset.
  • Partially or fully disposed of.
  • Removed from service.
You can't make changes to assets when other events are in progress.
  1. Access the
    Dispose Assets
     task.
    You can dispose:
    • Assets with lifecycle events.
    • Intangible assets that you register manually or from a supplier contract.
    • Leased assets that you register from a supplier contract when they reach their depreciation and contract end date.
    • Leased assets that you register manually.
    Configure the
    Asset Disposal Event
     business process and security policy in the Business Asset Tracking functional area.
  2. Access the
    Dispose Expired Assets
     task.
    Dispose fully depreciated assets that have no residual value and are beyond their useful life.
  3. (Optional) Select
    Business Asset
    Reinstate
     from the related actions menu of a disposed asset.
    Reinstate a disposed asset to its state before disposal. You can't reinstate partially disposed assets.
    For capital assets, Workday generates accounting to:
    • Reinstate the accumulated depreciation.
    • Reinstate the asset cost.
    • Reverse any gain or loss booked for the disposal.
    When you have multiple asset books, Workday reverses recaptured bonus depreciation and returns it to the depreciation schedule.
    Configure the
    Asset Reinstatement Event
     business process and security policy in the Business Asset Tracking functional area.
When you dispose assets, Workday:
  • Calculates accumulated depreciation and any gain or loss and creates a journal entry.
  • Changes fully disposed assets to
    Disposed
     and severs the relationship to workers.
  • Leaves partially disposed assets
    In Service
     and issued to workers.
  • Makes any related capital project assets unavailable for further adjustments.
  • Removes fully disposed assets from the asset register.