Terminating Insurance Coverage of Fixed Assets

A fixed asset’s insurance coverage will automatically be terminated when you post a disposal entry to the depreciation book that you have specified in the Insurance Depr. Book field in the Fixed Asset Setup window.

The termination is carried out even if the Automatic Insurance Posting field in the FA Setup window is active.

To Terminate Insurance Coverage of Fixed Assets:

  1. Open the Fixed Asset G/L Journal window or the Fixed Asset Journal window depending on whether or not you have activated G/L integration for disposal in the Depreciation Book Card window.

  2. Enter a disposal line. For Help about a specific field, click the field and press F1.

  3. Click Posting, Post to post the line.

    The program has removed the check mark from the Insured field on the Maintenance tab of the fixed asset card.

    In the Total Value Insured per FA window, there is no longer a value for the fixed asset.

Related Topics

Setting Up General Default Values for Fixed Assets

Printing Total Value Insured Reports

Posting Disposal Transactions

Insurance Information Setup

Linking Fixed Assets to Insurance Policies

Updating Insurance Information

Monitoring Insurance Coverage