When to Use Recycle Asset

Recycle Asset should only be used when:

• The asset was added to the system by mistake
• The asset was never meant to be part of your TCA (Tangible Capital Assets) financial reporting
• The item should never have been classified as an asset

Important: Recycling an asset will affect prior-year financial reports.

When to Use Dispose of Asset

Dispose of Asset is often the best option because:  

• It maintains a financial record of the disposal
• Prior-year financial reports are not affected
• It provides an audit trail for legitimate asset disposals

Assets with No Financial Values

If the incorrectly entered assets have no financial values attributed to them, you can safely use the recycle function without concern for financial report impacts.

Recommendation

For assets that were entered in error (such as reports or documents that should never have been classified as assets), use the Recycle Asset function, especially if they have no financial values assigned.

For more information on disposals and asset information, click here.