Disposal/retire fixed asset with zero book value

(0) Share

Report

Posted on by Kenneth S

Dear all,

I have a little issue in Business Central regarding retiring/disposal of an asset, where I hope someone can guide me a bit :).

I have a fixed asset which has a net book value of 0, however it has been decided that the asset should be removed completely from our books, therefore in principle I want to "dispose/retire" the asset.

Nevertheless, I get an obvious error code when posting a G/L Fixed asset journal that the value of the asset is zero.

In principle the asset has an acq.value of 1000, accumulated depreciation is 1000 and hereby NPV is zero. When we close the financial year we want to see a disposal on the asset card (rolling back the acq value and the accumulated depreciation) - I know a GL journal can fix the issue on our balance, however the Fixed Asset report/card wouldn't reflect this change.

In other words how do I reflect the disposal on our asset card when the asset has a value of zero?

Thanks

Kenneth

I have the same question (1)

All responses (2)

Answers (1)

Suggested answer

Community Member on at

Like (1)

Report

RE: Disposal/retire fixed asset with zero book value

Kenneth,

If you use the Fixed Asset G/L Journal, enter the Fixed Asset on the left and choose Disposal with a 0.00 Amount make sure you enter the Balancing Account G/L Account and No. = Gain/Loss on Fixed Assets. It will post as mine has:

Thanks,

Steve

Was this reply helpful? Yes No
Verified answer

Kenneth S 25 on at

Like (0)

Report

RE: Disposal/retire fixed asset with zero book value

Thanks Steve, that worked perfectly.

I completely missed the fact that I should use zero in the "disposal".

Was this reply helpful? Yes No