TABLE OF CONTENTS

• Summary
• End Result
• Method
• Considerations

Summary

This article explains how to fully depreciate an Asset.

End Result

The Asset will have a $0 value. 

Method

There are two ways to depreciate an Asset in full so that it ends up having a zero dollar value 

Option 1:

Process a zero dollar sale for the item. 

• Go to Asset Register Maintenance and search for the desired asset
• On the General tab, click on 'Process Sale'
• Process a sale for a $0 consideration

Option 2: 

Depreciate the item to 100% so that it has $0 value. Once it is at $0 you must ensure you change the depreciation rate to 0% so that it does not begin to appreciate and gain value. 

• Go to Asset Register Maintenance and search for the desired asset
• On the General tab, click 'Override Method' tick box and enter 'Fixed or Straight'. 
• On the General tab, click 'Override Rate' tick box and enter 100 in the field. 
• This will ensure that the asset is depreciated by the end of the year. 

Considerations

Will this Asset be sold in the future, if so using Option 2 may be the best.