Fixed asset removal? deletion? recalculating depreciation

Question

I entered 19 assets in 2023, starting in March. I didn't realize the $$ threshold had increased from $2k to $5...sooo I need to remove 8 assets and the depreciation that we have taken throughout 2023 and rerun Decembers depreciation for year end? We do not period end process fixed assets but I have already ran Januarys depreciation. 
 What is the best way to do this? If I delete each one, what date do i use? Do I need to manually calc all the depreciation we took or will running the general journal entry help with that or? 
 Help!!

Delray · Accepted Answer

Hello Linda, 
 If you are deleting or inactivating the assets, there is no &ldquo;date&rdquo; that it happens, the depreciation just disappears as if it never existed. You just need to re-run the reports to see the new numbers. 
 There is no difference calculation in the program. By deleting or inactivating the assets, any depreciation is just gone which means you need to do the math to figure the differences and make the adjustment to your GL. See What is the difference between deleting and inactivating an asset for more information. 
 If you wish to see the changes in prior periods, then yes, you will then need depreciation back to those prior dates. 
 If by delete you mean dispose, which is a calculation of depreciation, re-running depreciation would depend on the disposal date by first running depreciation back to a date prior to that disposal date and then preforming the disposal. See How to dispose an asset for that process. 
 ~Delray

Delray · Answer

The Force Recalculation is there for those times that you have changed something on the Calendar (and a couple of other things which will change the current calculation) and are looking for a change in the calculation without running depreciation to a different period. 
 For Example, you have depreciation ran for 12/2023 but then you add a short year at some point in time prior to that date. By re-running depreciation again to 12/2023 with the Force Recalculation checked, it will force the program to recalculate that change in calendar. The same effect happens by running depreciation to a prior period. 
 In other words, if you are running depreciation to different dates, but first running depreciation to a date prior to the current through date, no, you never need the Force Recalculation. 
 ~Delray

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Fixed asset removal? deletion? recalculating depreciation

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