You create retirement adjustment assets to collect cost of removal and proceeds of sale amounts for assets associated with a group asset in Oracle Assets that you are retiring, removing, abandoning, or otherwise disposing.
When you define a retirement adjustment asset in Oracle Projects, you must specify a valid Oracle Assets group asset identifier as the target asset. You can create retirement adjustment assets and interface retirement costs to Oracle Assets only for fixed assets that are classified as group assets in Oracle Assets. To interface a retirement adjustment asset to Oracle Assets, you must specify a retirement date for the asset in Oracle Projects. For a complete list of attributes you can define for an asset, see: Asset Attributes.
You can initiate a retirement request in Oracle Projects to identify one or more assets that you are retiring from service. Retirement requests serve as an advice that you can use to notify your fixed asset department about assets that need to be retired in Oracle Assets.
To process a retirement request:
Navigate to the Capital Projects window and choose the Requests button to open the Retirement Requests window.
Choose the Create New Request button to open the Mass Retirements window and specify any combination of asset attributes to find one or more assets you want to retire.
Save your work.
After a retirement request is processed in Oracle Assets, you can return to the Retirement Requests window in Oracle Projects to view the retirement information.
To view retirements:
Navigate to the Capital Projects window and choose the Requests button to open the Retirement Requests window.
Select a retirement transaction you want to view and choose View Retirements.