Forums / Categories / PeopleSoft Financials PUG / PSAM 9.2 Retire message "You have to enter either proceeds or removal cost for a fully retired asset (8010,309) "

    PSAM 9.2 Retire message "You have to enter either proceeds or removal cost for a fully retired asset (8010,309) "

    Hi everyone,
    Does anyone know what causes this error message? I'm retiring over 400 assets and two assets come up with this message when I click SAVE on the retirement transaction. There are no proceeds or removal costs associated with the retirement of this asset. It's an old asset that's fully depreciated and the physical asset has long since been sent to the trash. I assume it's a setup issue but I don't know where to start looking. Any help is much appreciated.

    Thank you!



    Go back and try unchecking retire all books, then retire each book one at a time.  I have some assets that will stay in-service until I go back and retire one single book again.  If you get the "you have to enter proceeds…" message when retiring a single book, then cancel your transaction and move on to the next book.



    You are absolutely correct! It had been previously retired and the status was still set to In-Service. I tried your suggestion on using $ .001 for either the proceeds or removal cost but it would not work. There seems to be an edit for both fields that prevent entry of amounts with three digits to the right of the decimal point.

    So now my testing reason changed.. Now I want to change the status to Retired.  I reintstated, ran deprcalc, retired it with $0.01 removal cost and ran deprcalc and AE. After all that the status still remains In-Service. Do you have any suggestions on how to change that status from In-Service to Retired?


    The only time I get this message is when I'm trying to retire an asset that is already retired.  Perhaps your asset was previously retired, but the status didn't change?  Maybe only one book was previously retired?  Check the retirement table to see if there is already an entry for this asset.  If not, I would enter $.001 for the proceeds to clear the message and save the transaction.


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