Select the status of the fixed asset for the selected value model. The following options are available: Not yet acquired ...

Select the status of the fixed asset for the selected value model. The following options are available: Not yet acquired (the default status of the fixed asset until the first acquisition has been posted for the value model), Open (the fixed asset has been acquired; for open value models, all fixed assets can be posted one time, except for fixed assets that have the Acquisition type, which can be posted more than one time when the Allow multiple acquisitions option is selected in the Fixed assets parameters page), Suspended (the fixed asset is not available for posting fixed asset transactions and cannot be selected in journals; this status must be selected manually), Closed (the last depreciation for the fixed asset has been posted and the net book value is 0 (zero)), Sold (the fixed asset has been disposed of by sale, and you must create a free text invoice or manually enter a sales transaction in the journal), Scrapped (the fixed asset has been disposed of by scrap, and a disposal scrap transaction has been posted in a journal), and Transferred to low value pool (the fixed asset has been transferred to a low-value pool). Value models that have statuses of Suspended, Closed, Sold, or Scrapped cannot be updated with additional fixed asset transactions. However, you can manually change the status at any time and reopen the fixed asset for any kind of transaction. You must update the fixed asset status for each value model that is assigned to the fixed asset. For example, an asset might be fully depreciated for tax purposes and closed for its tax value model, but can be open for accounting purposes because more depreciation will be posted in the future. The status of a fixed asset is usually updated automatically. However, you can modify the status of the fixed asset.