The decommissioning transaction is performed by selecting the Decommissioning Slip option in Asset Management > Transactions > Asset Transactions browser. If the asset is damaged from natural disasters or is to be destroyed, the 'Output' box should be selected in the slip line in order to generate the related G/L slip. The asset value and depreciation are closed in G/L slip and the loss is recorded. When the decommissioning slip is generated, the status of the related asset changes to Unavailable.