Need to Accelerate Depreciation for Retirement

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Posted on by aprilpet

I need to retire many assets that have been placed in service for while. Is there any way to "accelerate depreciation" so that at retirement all the remaining depreciation for the remaining life of the asset will calculate for the expense line, as opposed to the NBV for accumulated that will ultimately go to Loss?

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sueconrod 337 on at

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You can create a group and then you can depreciate them so that all depreciation is taken (6 mo convention). Then turn around and do your GL and change the accounts only on this group. That is what I've seen other customers do.

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aprilpet 35 on at

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Hi Sue,

I don't quite understand. I don't see a 6 mo convention to select.

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