Scrapping a Fixed Asset in X3

This function can be used to dispose of an asset in X3. It is commonly used if an

asset is damaged and needs to be moved off the books.

In this example FA001 will be scrapped

o Book Value $1,200
o Accumulated depreciation: $99.73

1
Step 1: Run the process to scrap the asset

Go to Fixed Assets/ Scrap

Header Section
Scrap Date: date the asset is scrapped
General Type: Actual setting will generated a journal entry; Active simulation
will generate an analytic journal that will be reversed when the actual journal
is generated.
Distribution Status: should always be set to Temporary.
Accounting Date: this date represents the posting date
Document Type: should be set to ODI
Journal: should be set to ODI
Resume Depreciation: if the financial charge hasnt already been generated
for the period this will generate the depreciation expense entry

Lines Section
Fixed Asset: define the asset that is to be scrapped
Reason: specify the reason the asset is being scrapped (disposal reasons
can be defined in misc table 317)
Click on OK

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Screenshot of Scrap menu

3
Log file that is generated from the process