How Dispositions are Processed
This document describes the process of two examples of assets over $5,000 being disposed, one asset for $2,025 and one asset for $0.00. FAS transactions codes, STARS transactions codes, FAS reports, and the various FAS screens are described for each example.
Disposed assets will be viewable in the FAS Property Maintenance/Inquiry screen for three years (prior to the current fiscal year). Three years after disposition, they will be purged from FAS during Fiscal Year End processing.
DAFR4473: FAS disposition transactions
This example describes an asset over $5,000 being disposed of with $2,025 being received, recorded with a STARS TC 027. The DAFR4473 report shows disposition transactions that posted in FAS. The TC 027 transaction posts in STARS for the $2,025.00 received. This transaction automatically generates a FAS TC S04.
Figure 1 - DAFR4473
FAS Property Record Maintenance/Inquiry screen S040
Recall the Property and Component number (212991-02) on the FAS Property Record Maintenance/Inquiry screen S040 to see the ORIGINAL AMOUNT of $17,060.04, the STWD ACCUM DEPR amount of $17,060.64, and the last depreciation date of 06-30-2000. NOTE: DISP DT and DSP MTH fields are updated when the asset is added to the Hold File before the DAY 1 processing.
Figure 2 - Property Record Maintenance/Inquiry
FAS Financial History Inquiry screen S043
Recall the Property number (212991) on the FAS Financial History Inquiry screen S043 to see the processed transactions for this specific asset.
Figure 3 - Financial History Inquiry screen S043
The FAS TC S04 processes on 04-01-2010 and automatically generates a Gain (TCs G04 and G09) for $2,025.00, since the asset was fully depreciated but monies were received. The FAS TC S04 also generates a FAS TC RD3 for $0.00 which will be updated with the necessary calculated amount.
DAFR4581: FAS transactions that generate STARS transactions
The FAS TC S04 generates a STARS transaction code 8GF for the amount of the sale, $2,025.00.
Figure 4 - Transaction Code 8GF
DAFR7101: 8GF transaction to process in STARS
The DAFR7101 shows the FAS generated transactions (as seen on DAFR4581 from DAY 1) for processing in STARS.
Figure - 5 - DAFR7101
DAFR4472: FAS transactions generated from the DAY 1 processing.
The DAFR4472 shows the batch with calculated amounts that was created in DAY 1 of generated FAS transactions.
Figure 6 - DAFR4472
The FAS TCs G04 and G09 process the sale of $2,025.00 since the asset was fully depreciated. The FAS TC RD3 is generated for $17,060.64 (equal to the STWD ACCUM DEPR amount).
DAFR4581: Generated FAS transactions that generate STARS transactions
Figure 7 - DAFR4581
The FAS TC G04 generates a STARS TC 8GL for the amount of the sale, $2,025.00. FAS TC RD3 generates a STARS transaction code 8GZ for the STWD ACCUM DEPR amount of $17,060.64.
FAS Property Record Maintenance /Inquiry screen S040
The FAS Property Record Maintenance Screen S040 shows the FAS transactions and the amounts of the generated transactions from DAY 1.
Figure 8 - Property Record Maintenance Screen
DAFR7101: STARS TCs from generated FAS TCs
The DAFR7101 shows the STARS TCs that are generated from the FAS generated transactions (as seen on the DAFR4581 from DAY 2).
Figure 9 - DAFR7101
Property number 221935-00 is an asset over $5,000 being disposed for $0.00, recorded with a FAS TC DD4 entered directly in FAS Data Entry screen S035.
Figure 10 - DAFR4473
Recall the Property and Component number (221935-00) on the FAS Property Record Maintenance/Inquiry screen S040 to see the ORIGINAL AMOUNT of $5,744.55, the STWD ACCUM DEPR amount of $5,744.55. NOTE: DISP DT and DSP MTH fields are updated when the asset is added to Hold File before the DAY 1 processing.
Figure 11 - Property Record Maintenance/Inquiry
Recall the Property number (221935) on the FAS Financial History Inquiry screen S043 to see the processed transactions for this specific asset.
Figure 12 - Financial History Inquiry
The FAS DD4 does not generate a gain or loss since the asset was fully depreciated and no monies were received. The FAS DD4 does generate a FAS TC RD 3 for $0.00 which will be updated with the necessary calculated amount. The FAS TC DD4 does not generate a STARS TC, since the amount is zero.
DAFR4472: FAS transactions generated from DAY 1 processing.
Figure 13 - DAFR4472
The FAS TC RD3 is generated for $5,744.55 (equal to the STWD ACCUM DEPR amount).
Figure 14 - DAFR4581
The FAS TC RD3 generates a STARS TC 8GZ for the STWD ACCUM DEPR of $5,744.55.
Figure 15 - Property Record Maintenance Screen
Figure 16 - DAFR7101