Issue/Symptom/Question

We have two fixed assets that were set up for  Depreciation Bases 1 through 6. Only bases 1 and 6 should have been set up, I do not know how to remove bases 2-5 which are tax bases and do not post journal entries. 

Applies To

PENTA for Windows

Asset Information:

Fixed Asset Management > Asset Information

Initial Load:

NOTE: You must have authorization to post to this module.

System Management > Initial Load > Fixed Assets/Equipment > Depreciation

Resolution/Fix/Answer

PENTA will not allow the deletion of a Depreciation Base once the depreciation amount is zero. Here are the steps you can take to delete the Tax Method bases for the your assets after having run depreciation:

1. Run and review the Depreciation History report for the two assets – date the report to include all depreciation entries (suggest the end of your fiscal year)
   
2. For the tax bases, make sure the Basis Value is entered. This should be the Acq-To-Date value listed on the Depr History report - this is in the Asset Information window - Depreciation tab:
   
3. Navigate to System Management > Initial Load > Fixed Assets/Equipment > Depreciation and complete the reversal of the depreciation using the value listed in the Acq-To-Date column and today’s date
   
4. Run and Review Depreciation History report the same as step one – make sure the Acq-To-Date amount is zeroed out
   
5. Navigate to the Asset Information window and delete the Deprec. Base(s) needing to be deleted