How to Handle Fixed Assets that were Generated Erroneously

Written by
Carmela Batalla
Published on
September 11, 2023 at 2:01:06 AM PDT September 11, 2023 at 2:01:06 AM PDTth, September 11, 2023 at 2:01:06 AM PDT

Scenario

An elimination Journal includes an Asset account and erroneously generates an asset through an Asset Proposal.

Solution

1. Delete the Invalid Asset. See article about Deleting Assets

2. Inactivate Invalid Assets -Inactive per individual Asset Records

a. Navigate to Fixed Assets >Lists > Assets
b. Click Edit
c. Put a checkmark on the Inactive checkbox

d. Click the General tab
e. Remove the checkmark on the Include in Reports checkbox
f. Set the Depreciation Active = False
e. Click Save.