Retiring an asset

Show expandable text

When an asset is retired, depreciation is not taken in the year of retirement or any subsequent year. The asset remains until the disposal method is changed to Casualty / Theft, Sold / Scrapped, or Like-Kind Exchange. In addition:

  • Retired assets are not included with disposals on any report or form.
  • The Retired method is available when performing a mass disposition.
  • Retired assets can be placed back in service. To place an asset back into service, open the asset, click the Disposal tab, highlight the Retired method, and press DELETE.

If prior depreciation is calculated after an asset is placed back into service, the application calculates the entire prior depreciation as if the asset was never retired.

Related topics

Entering disposal information

Disposal methods

Was this article helpful?

Thank you for the feedback!