What is retirement in SAP (SBO - SAP Business One)?

SAP Term: retirement

• Component: SBO

• Component Name: SAP Business One

• Description: The removal of an asset or part of an asset from the asset portfolio.

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• Key Concepts: 
  Retirement in SAP Business One is the process of removing an item from the inventory. This is done when the item is no longer needed or has reached its end of life. The retirement process can be done manually or automatically. 
  
  How to use it: 
  To manually retire an item, go to the Inventory tab and select the item you wish to retire. Then click on the Retirement button and enter the quantity you wish to retire. The system will then update the inventory accordingly. 
  
  To automatically retire an item, go to the Inventory tab and select the item you wish to retire. Then click on the Automatic Retirement button and enter the criteria for retirement. The system will then automatically retire items that meet the criteria. 
  
  Tips & Tricks: 
  When retiring an item, make sure to check if there are any open orders or invoices associated with it. If there are, make sure to close them before retiring the item. This will ensure that all transactions related to the item are properly accounted for. 
  
  Related Information: 
  For more information on retirement in SAP Business One, please refer to the official documentation here: https://help.sap.com/viewer/product/SAP_BUSINESSONE/902/en-US/f8d7f3c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6a14e8a9f3d7c2b6