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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / What is the best way t...
Microsoft Dynamics GP (Archived)

What is the best way to get a net book value of zero on an asset that has been fully depreciated?

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Posted on by Nona 35

I am not a financial person, but I'm trying to figure it out for accounting. It is my understanding that the asset is very old and has been fully depreciated but still has an amount listed for net book.

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  • Suggested answer
    Sunbeam De Jesus Profile Picture
    Sunbeam De Jesus on at

    Hi,

    May I know what is the depreciation method being use and how many years\days is the remaining life of the assets?

  • Ben Faris Profile Picture
    Ben Faris 910 on at

    Hi Sunbeam, I am in the same boat as Nona above.  I thought maybe if I sent you answer to your questions you might be able to point us in the right direction of zeroing out the NBV on the fully retired assets.  We have a handful that over the years had been created in Error or become obsolete before the deprecation date.  All of them were using Straight-Line depreciation.  Their remaining life was different on each, but for example we have one with 8 years 0 days remaining, and one with 10 years 0 days remaining.  Let me know if you need more information.  Thanks in advance for any assistance.

  • Vijayakumar Kenchugundu Profile Picture
    Vijayakumar Kenchug... 1,077 on at

    Hi,

    I am also having same problem. My depreciation method is "Straight-line original life" and switch over "No Switch". I appreciate if you can know the solution to get rid of the net book value without affecting my financials. Because my financials are correct.

    Regards,

    Vijay

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