How to Clean up the netbook value when the fixed assets is retired

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Posted on by Linda Lao

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Hi, I have some fiexed asset retired and still have balance at the net book value

example Accquisiton Cost $22841.95 nad LTD Depreciation Amount $17,181.32 Net book value $5,660.63, right now my Subledger is not balance to GL, how I I correct this?

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Is anyone able to shed some light on this please?

I have a similar situation where an asset has been retired (sold), but still shows a positive net book value in the Asset Book. The asset wasn't fully amortized/depreciated before retirement, but the cost and accumulated amort. were both properly removed from the GL in the Post to GL routine. Why does it still show a non-zero NBV? Is this some left over information from asset retirement?

Thanks

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Abdo Khoury 14,855 on at

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Dear

Does the amount you see in the Net Book Value after retirement equals to the acquisition cost ?

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Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

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I would look at the Financial Detail Inquiry under the LTD Depreciation link in the Book card to review the details of the retirement for something unusual.

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No, the NBV I see is the NBV at the time of retirement.

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Hi Frank, Thanks for the reply

I checked the Financial Detail Inquiry, and it shows the retirement, so everything is okay there.

This is what I see in the Asset Book Inquiry window (apologies for the ugly scribbles). The NBV circled in red there isn't affecting anything important, but it is showing up in reports, which can be confusing.

Thanks!

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Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

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Linda, try changing the LTD Depreciation value in the Book card to drive NBV to zero. As long as all other values are correct in GP, including the GL, this should work.

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Frank, I don't think you can access the asset on the Book screen once it is retired.

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