NSC | Is it possible to delete a Fixed Asset that is Depreciating?

Micah Timbol-Oracle

Scenario:
The user is attempting to delete an asset named "Laptop - Finance Dept", which has been depreciating for several periods. The Current Net Book Value is $500, and the asset has a status of Depreciating. The user is unable to delete the asset because it is active for depreciation.

Solution:
Before proceeding, make sure that the Allow Asset Value Editing preference is enabled. To do this, navigate to Fixed Assets > Setup > System Setup (Administrator role required), and confirm that the Allow Asset Value Editing box is checked.

1. Navigate to Fixed asset > Lists > Assets
2. Click Edit beside the FAM asset in question
3. Set the following:
   1. Current Net Book Value = 0.00
      
   2. Asset Status = Disposed
4. Under General Tab set the following fields to null or blank:
   • Purchase Date
   • Depreciation Start Date
   • Depreciation End Date
   • Last Depreciation Period
   • Last Depreciation Amount
   • Last Depreciation Date
5. Set Depreciation Active = False
6. Click Save
7. Click OK
8. Navigate to Fixed Assets > Setup > System Setup and click Reset Asset Values
9. Hover to Actions > Delete (The following error will be received: This record cannot be deleted because it has dependent records., click dependent records link on a new tab.
10. Delete all dependent records
11. Navigate to Fixed asset > Setup > Delete Assets
12. Under Delete Invalid Assets page select the Asset ID/Name
13. Click Delete

Hope this helped!