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  #1  
Old 01-29-2012, 05:05 PM
cagraziani cagraziani is offline
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Inactive Assets on Balance Sheet

I have assets that have been fully depreciated and are no longer used in my business. When I mark them as INACTIVE they still appear on my Balance sheet.Is it possible to remove them? Thanks in advance.
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Old 01-29-2012, 05:53 PM
qbqcca qbqcca is offline
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If you mean the Assets are still showing on your Balance Sheet with a Zero Balance then with the Balance Sheet on the screen go to Modify Reports > Advanced and under Display Rows Section click on the Non-zero option.

Note this all so works on the P&L
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Old 01-29-2012, 07:44 PM
cagraziani cagraziani is offline
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Inactive Assets on Bal. Sheet

QBQCCA, tried your solution but the ZERO balances still appear on my balance sheet.
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Old 01-29-2012, 08:15 PM
Lyle Workman Lyle Workman is offline
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I believe you'd have to zero-out the asset and accumulated depreciation accounts to remove them from the balance sheet. Talk to your accountant because when removing a business asset from the books you must recapture the past depreciation on your tax return. This transaction will require a journal entry to the appropriate accounts to accomplish your goal.

Hope this helps!
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  #5  
Old 01-29-2012, 10:16 PM
cagraziani cagraziani is offline
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Assets with Zero bal

Both the asset and acc. dep. are both at Zero. The depreciation has been taken on past tax returns. Now the balance sheet is still showing all the assets with a zero bal.
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