Time and time again, I get the same question: can I delete a fixed asset after depreciation has been done?
Honestly, it is not a best practice to delete an asset just because it’s either fully depreciated, disposed, split apart, transferred, etc.
Just because an asset is fully depreciated doesn’t mean you should just toss it to the side. Do you still have it? If you still have it and are still using it, you need to account for that for personal property taxes, insurance, a physical asset inventory count and for historical records [good for audits].
When your asset is fully depreciated and you are using an automated solution to keep track of your assets, most solutions have an INACTIVATE option. If this asset has been fully depreciated for many moons, it’s ok to change the activity of that asset to inactive. Or, you can always group those assets out into their own bucket for reporting, etc.
For cryin’ out loud… please don’t delete! If you are the delete curious, you may find my other blog about this topic: Don’t Delete Disposals.