NetAsset - Disposal Reasons

Overview

A Disposal Reason records why an asset was disposed of. It can also carry defaults for the disposal: the Gain/Loss Account, the Receivable/Payable Clearing Account and the Disposal Convention. When a reason is selected on the Dispose Assets page or a disposal proposal, its defaults are applied automatically. This cuts manual entry and keeps similar disposals consistent.

For example, assets can be disposed of through a sale, scrap, trade-in or casualty loss, and each may need its own gain/loss account or disposal convention. A casualty loss might post to a different account than a gain on sale, and a scrapped asset might use a different convention than a mid-month sale. Setting these defaults on each reason means users don't have to remember to override them on every disposal.

The Asset Register report also offers a set of Disposal Reasons columns, so disposal activity can be broken out by reason.

Key assumptions

  • Disposal Reasons that existed before this release (NetAsset 2026.2.4.0) have no defaults until you add them. Until then, they behave as a normal list.
  • A reason applies only the defaults it has. Fields left blank on the reason leave the disposal's value as it is.
  • Defaults are applied in this order: a value entered on the disposal, then the reason's default, then the asset type's default.
  • Values applied by a reason can still be changed manually before the disposal is processed.
  • Completed disposals are not changed. The account recorded on a completed disposal is the one that posted.

Prerequisites

  • For a Disposal Reason to default the Gain/Loss Account and Receivable/Payable Clearing Account, Allow Override of Disposal Accounts must be enabled.
  • For a Disposal Reason to default the Disposal Convention, Allow Override of Disposal Convention must be enabled.
  • The user's role needs at least View access to the Disposal Reason record for its defaults to apply. A role without it can still dispose of assets but must enter the accounts manually.

Step-by-step process

  • Enable the required settings.
    • Navigate to NetAsset > NetAsset Setup > System Setup. On the General subtab, scroll down to the Disposal Settings section.
    • Check the box for Allow Override of Disposal Accounts to allow account defaults from a reason.
    • Check the box for Allow Override of Disposal Convention to allow convention defaults from a reason.
    • Scroll to the top or bottom of the page and click Save.

  • After enabling settings, users can manage the NetAsset Disposal Reason List to add defaults to a new or existing Disposal Reason.
    • Navigate to NetAsset > NetAsset Setup > Manage Disposal Reasons. To create a reason, click New NetAsset Disposal Reason and enter a name. Then fill in the fields below for Default Gain/Loss Account, Default Receivable/Payable Account, and Default Disposal Convention. To add defaults to an existing reason, click Edit next to the reason in the list.
    • Click Save. Repeat this step for each reason that needs its own defaults.

  • After creating or editing reasons within the NetAsset Disposal Reason List, users can now select the Disposal Reason on a disposal. Open the disposal you want to process with one of the following options:

Single Asset Disposal

  • Navigate to NetAsset > View Asset Registers > Asset Register to View the NetAsset Asset record being disposed of and click Dispose at the top of the page.
  • See NetAsset - Asset Disposals for more details.

  • Select a reason in the Disposal Reason field. The defaults allowed by your settings replace the account and convention values on the form. Before continuing, review the Disposal Convention, Gain/Loss Account and Receivable/Payable Clearing Account fields to confirm the values are correct. They can still be changed.
  • Once the values are correct, process the disposal as normal. Click Dispose, or approve and process the proposal using the standard workflow. When the job finishes processing, the reason is stored on the disposal record and can be used in reporting.

Mass disposal

  • Navigate to NetAsset > Update or Modify Assets > Dispose Assets to apply a Disposal Reason in bulk.
  • Filter for the assets to be disposed, select the reason, edit the overrides as needed. When ready, click the Disposebutton at the top of the screen.
    • The reason is selected once on the mass disposal and applies to every asset in the run. For each asset, it fills in only the accounts not already entered on the mass disposal. The disposal convention comes from the convention selected for the mass disposal.
  • See NetAsset - Mass Asset Disposals for more details.

Disposal proposal

  • Navigate to NetAsset > View Asset Registers > Disposal Register to create or edit the NetAsset Disposal Proposal record.
  • Disposal proposal records can be CSV imported and then approved and processed. Fill them out as you would the normal disposal record and then Save and Dispose once the record is approved. You can process these in bulk as well. 
    • Imported disposal proposals: a reason replaces the asset type's default accounts and convention, but not values entered in the import.

Reporting

  • Asset Register reports have a Disposal Reasons column group with three columns for each reason: Disposals, Disposal Gross Amount and Disposal Accumulated Depreciation.
  • Reason columns include activity on main, alternate and tax schedules.
  • Inactive reasons remain available as columns, marked as inactive, so you can still report on past disposals.

To add a reason column to a report:

  • Navigate to NetAsset > Reports > All Reports and click Edit on the Asset Register report.
  • Click the Advanced Configuration subtab.
  • Scroll to the bottom of the column list and click - Select - in the Field Selection to select a new row from the dropdown. Type "Disposal Reasons" to jump to that section of the list, then select the column you want.
  • Click Add. Repeat for each reason column you need. You can drag and drop the row to move it around on the Asset Register. 
  • Click Save.

Limitations / things to be aware of

  • On the single-asset Dispose Assets page, changing to a convention that changes the date input, such as Prorated, reloads the page. The reason's defaults are kept, but other values you entered are cleared. Select the reason before entering other values.
  • Changing or inactivating a reason after disposals are processed does not change completed disposals.
  • A disposal proposal that already carries a reason can still be saved and processed after that reason is made inactive.



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