Sales Disposal Journal

Sales Disposal Journal Overview

The SapphireOne Sales Disposal Journal allows for the disposal of an asset. Once this transaction is saved SapphireOne will automatically create the Disposal Journal ready for posting to the General Ledger account. The user has the ability to create both a partial or a complete disposal.

The Sales Disposal Journal is located by going to Assets > Assets > Sales Disposal Journal.

Assets Area

The only requirement for data entry in this area is to enter the ID of the item that is to have this Sales Disposal Journal created for it. SapphireOne will then display the name of the asset immediately below the ID.

Additional information on the item may be viewed by selecting one of the four tabs in the tab area. These tabs display as follows.

  • Transactions – Lists all depreciation transactions that have been created for this item.
  • General Ledger – Displays the General Ledger accounts that are linked to this item.
  • Asset – Displays basic details about the item.
  • Controls – Displays additional details about the item.

Notes Area

Any Notes that are required may be entered in this area. The user can select the Green Clock Icon to add a Time and Date stamp to the Notes. The user also has the ability to highlight the text in the Notes area and right mouse click to customise the Font, Style, Colour and Background Colour to their preference.

SapphireOne’s implementation of both Dictation (MacOS) and Speech to Text (Windows) is a game changer for anybody doing data entry within SapphireOne. Any data entry field that the user can type into using a keyboard, they can use this feature.

They can also use this functionality on all inquiry screens within SapphireOne. For example, the user is in a Contact within a Client and they have just made a phone call to that particular client using the Softphone technology, this will automatically date and time stamp the contact and the phone number you called to. As soon as the call is completed or finished, the user has the ability to use the Speech to Text (Windows) function or Dictation (MacOS) function and dictate into the memo field of the CRM contact, adding as much description as they require.

This functionality applies across every single Data Entry screen. For example, if the user is entering a Vendor Invoice (VI) and they want to add a memo within the Vendor Invoice (VI), the user can simply dictate the memo. Another example is if the user wants to add additional lines to the General Ledger account, within each General Ledger account when the user is completing data entry using a General Ledger, there’s always a unique memo field for each General Ledger account line, the user can utilise this feature to quickly add the information they need to add. Additionally, if you’ve got an interview with an employee and after the interview process is completed the user is able to make notes about the employee.

Speech to Text or Dictation is an extremely powerful tool and it’s something that we at SapphireOne as well as our clients utilise daily. It is a massive timesaver. 

Disposal Area

  • Date – SapphireOne will enter in today’s date which may be altered by the user if required.
  • Period – SapphireOne will enter in the current period but this may be altered if required.
  • Int Ref – SapphireOne will automatically enter in an Internal Reference number. This may be altered by the user if required.
  • Ext Ref – An External Reference number may be entered but is not compulsory.
  • Client – Enter a Client ID here or use the wild card search characters “@” or “?” to search for the Client ID.
  • Projects – If the item has been linked to a Project SapphireOne will display the Project ID and Name.
  • Tax Code – Enter the Tax Code to be used for this transaction.
  • Tax Rate – The tax Rate will be displayed based on the entry of the Tax Code above.
  • Tax – SapphireOne will calculate and display the value of the tax component of this transaction based on the Total entered for this disposal. This is one of the last fields documented below.
  • Asset (Cr) – This data entry field displays the General Ledger credit account linked to the item.
  • Bank (Dr) – This data entry field displays the Main Bank account linked to the item.
  • Profit/Loss – This data entry field displays the General Ledger profit and Loss account linked to this item.
  • Accum – This data entry field displays the currently linked General Ledger Accumulated Depreciation Plant and Equipment account.
  • Max Disposal – SapphireOne will automatically display the maximum disposal amount here before capital gains tax comes into effect.
  • Capital Gain – SapphireOne will automatically calculate any capital gains on the item when a Total is entered for the disposal. See below.
  • Total – This is a critical user data entry field. Enter the amount that you wish to dispose of the the item in this data entry field. A number of other fields are linked to the value entered into this Totals field and the values in these other fields will not be populated until a value is entered here.
  • % Sold – This data entry field allows for the partial disposal of an Asset. The maximum allowable percentage is based upon the Current Written Down Value (CWDV) of the item. It should also be noted that any calculated values will be rounded to two decimal places.
  • Do Not Transfer Transaction to Financials Checkbox – When this check box is selected, this transaction will be retained in Assets. A Journal for this transaction is not created in Financials.
  • Tag – A tag may be entered by the user. This list of tags may be created by the user as required.
  • Saving – Once all data entry is correct select the save icon on the main toolbar.

If you do not wish the Asset to continue to appear in any Inquiry lists once the disposal procedure is complete, navigate to an Asset Inquiry screen and mark the Asset as Inactive. At a later date you may still view these Inactive assets by going to the Sapphire Tools menu and selecting Include Inactive.

You can review our Blog and YouTube channel for additional information and resources on SapphireOne ERP, CRM and Business Accounting software.enerate

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