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I have an asset that I retired due to replacement. The asset wasn't fully depreciated. The asset is still showing as retired but a remaining balance on the Fixed Asset Depreciation Ledger is still showing. How do I get this to be $0.00 on the report? The asset was set up with the depreciation method of Straight Line Orig Life. The entries done in the GL are correct. My GL no longer matches the Depreciation Ledger report because of this retirement.
Hey Lori,
Thank you for your response.
Can you let me know, does the book reflect the Netbook Value you are seeing on the report? If the book itself has a netbook value, it's going to report that it has a netbook value even though it is retired if the Asset has a netbook value. See my retired asset below that was not fully depreciated and then retired.
Does your Asset show a Netbook Value itself when you look at the Book Inquiry window?
The netbook value on the report is just a calculation. It is the Cost Bases minus the Accumulated Depreciation.
I hope this helps!
Thank you!
Brandon | MIcrosoft Support Engineer
Hello Brandon,
Thank you for the response. I am running the depreciation ledger. If I run the ledger for a future date, the asset still shows on the report.
If I run the Depreciation Ledger for the current date, the asset still shows on the report as if it isn't retired and my Accum Depreciation for all of the assets isn't correct in total. Is there another report I can run that I can provide to my auditors that will match my Trial Balance?
Hey Lori C.
Are you seeing the same value on the Book of the Retired Asset for the Net Book Value or just on the Report?
The Depreciation Ledger reports do have some problems where most do not work for historical reporting. If you are using anything other than Current Date, the report will be incorrect.
If the Report is the only where you see this problem, try running it with Current Date instead of selecting any of the other options and see if the report now shows correctly for the Retired Asset.
I hope this helps!
Thank you!
Brandon | Microsoft Support Engineer.
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