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I retired an asset that was not fully depreciated. The Status now says Retired and I was expecting the Net Book Value to go to zero, but it did not change. However, the entries created for GL Posting are OK. Is this correct?
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Ray, thanks for the response. While this is an option for masking the actual values, we are trying to find a way to truly zero out the balances of a fully retired asset. If there is not a way to do so, then we'll live with it and find ways around it like you suggested, or simply export to excel and filtering by retired assets and overwriting the values with a 0. But before we get to that point, we'd like to try addressing the issue first-hand.
Coming across the same scenario from one of our accountants, so this sounds standard. This may be an ignorant question, but how would you fix that? Meaning, how would you zero out the NBV? Accounting is complaining that is throwing off their reports. Is there any way to clean up the left-over depreciation amount that is appearing in NBV?
(I know this thread is over a year old, but thought since my question applied, I wouldn't create a new one)
This seems to be standard behavior Ray. I tested on my system (GP2010) and got the same result.
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