Related topics

Reactivating Assets

Performing Asset Functions

Working with Assets

Inactivating Assets

We recommend that you inactivate assets instead of deleting them. If you delete an asset, you lose all of its history information. If you inactivate an asset, you retain that asset's history and accomplish most other goals you would attain by deleting an asset.

You should inactivate (rather than delete) an asset that was entered in error if you believe that you may need the asset's data again for an audit or other purposes.

Inactivating an asset affects it in these ways:

  • The system removes the asset from all reports with one exception.

    • The Asset Additions report has an option to include inactive assets.

  • The system does not calculate additional depreciation on the asset.
  • The system disables the asset's tabs. You are allowed to view but not edit the inactive asset's descriptive fields.

    • Tip: Add the reason for the deactivation to the Notes tab before deactivating it.

  • In the Asset List, the Status column indicates the asset's inactive status.
  • In Asset Detail, the Status field indicates the asset's inactive status.

Be sure you complete all necessary processing for an asset before you inactivate it.

To inactivate assets

You can inactivate an asset individually or inactivate a selection of assets. Or you can use the Select All button in the upper-left corner of the Asset List and inactivate the entire group of assets.

  1. Select the asset or assets you want to inactivate.
  2. Select Asset/Inactivate from the menu bar. The system displays a message asking you to confirm your intention to inactivate the selected assets.
  3. Select Yes.

Note: If the asset existed for one or more accounting periods, an alternative option is to dispose of it. While a deleted or inactivated asset will no longer appear in reports, a disposed asset will still be on reports for the periods it existed. This ensures that the reports remain consistent with your general ledger. The asset will continue to be listed in time-based reports, such as the Depreciation Expense Report, as a disposed asset until the end of the current accounting year. It will not appear in reports run for subsequent years.