Issue/Symptom/Question

How do I dispose of a Fixed Asset without calculating Depreciation? 

Environment

PENTA for Windows

Fixed Asset Management > Asset Information 

Finance & Accounting > Fixed Assets > Fixed Asset Disposal

Resolution/Fix/Answer

1) Fixed Asset Management > Asset Information

2) Query the Fixed Asset you would like to dispose 

3) Click the "Depreciation" tab and fill out all required fields. **This enables the disposal to be processed. Using a Salvage Value that is the same as the Original Value will prevent depreciation from being calculated.**

• For "Depreciable Life (In Years)", enter in any value other than 0
• For "Salvage Value", enter in the same amount as the "Original Value" found under the "Master" tab
  • Penta will not calculate Depreciation when the Salvage Value and the Original Value are the same

4) Click the "Disposition" tab and fill out all required fields

• For "Disposition Price", enter in the amount the land was sold for

5) Close the window 

6) Finance & Accounting > Fixed Assets > Fixed Asset Disposal

7) Fill out all required fields and click "Process Fixed Asset Disposals"