AM11.1 – Disposal Property

About AM11.1

Use Disposal Property (AM11.1) to define and maintain disposal properties, one code at a time. Disposal properties are used in disposal reports to further clarify the reason for disposing of a property or to tag disposals for specific reporting needs (for example, tax reports). Disposal properties are optional and do not affect depreciation calculations.

More information: Asset Management provides eight predefined disposal types: Abandoned, Donated, Exchanged, Retired, Sold, Traded, Other, and Purge. You must assign a disposal type when you dispose of a property, using Disposals (AM40.1) or Mass Disposals (AM145). On the same forms, you can also assign a disposal property. One use of disposal properties is to further clarify the Other disposal type (for example, define a disposal property of Broken or Stolen). Another use is to tag the disposal so it can be reported on for special reporting needs. (For example, you could tag all disposals that the IRS requires you to report on IRS Section 1245 with a disposal property named 1245.) Choose the Multiple Entry button to open Disposal Properties (AM11.2) where you can define and maintain multiple disposal property codes. To generate a listing of property disposal codes, run System Setup Listing (AM200).

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Related forms

• AM11.2 Disposal Properties