When retiring and replacing assets, there are two options: creating a fresh record for the new asset, which provides a clean slate, or updating the existing record, which ensures continuity in the asset history.
Option 1: Deactivate the retired asset and create a new asset for a replacement
To have a clear separation between the retired asset and its replacement.
1. Add a remark against the retired asset indicating the replacement.
3. Create a new asset for replacement.
Option 2: Update existing asset information
To keep all history in a single record while reflecting the replacement.
1. Add a remark against the retired asset indicating the replacement.
2. Edit the asset to update the base date.
Recommended steps
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