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HCI-RayB

Premier Depreciation, dispose in tax but not internal

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Due to an IRS change, we want to dispose of assets from prior years, however we only want to dispose of the tax portion and keep the internal intact.  I have read another post about replicating the asset and changing the information.  The problem we faced was the asset was not being disposed of for the proper amount due to depreciation.  If I adjusted it as non-cash, it would then go against both tax and internal.

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    Hello HCI-RayB,
    The program does not have a feature where you can dispose of only one book and keep other books active. However we do that have workaround that you mentioned a little bit about. If you go to the Sage Knowledgebase for Sage Fixed Assets and login to the portal. The article title: Disposing an asset in only one book. This big kicker is to make sure on the original asset that the book to be disposed (Tax) remain untouched and the others that should be changed to have $0 acquired value and depreciation method NO. The on the replicated asset you would change the book that was disposed of (Tax) in the original asset is changed to $0 acquired value and depreciation method NO. This makes it not double count the acquired value and depreciation between the two asset records that are actually the same asset but with different system numbers.
    I hope this helps you.

    ~Lovisa

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