You can only delete an asset when:
It has never been activated (Status = Inactive)
When it has been fully written off or disposed/sold (Status = Historic).
⚠️Important: Assets can only be deleted at End of Year to ensure reports remain complete.
Delete an asset that has not been activated
Select Masterfiles, Assets, Delete.
Either enter the asset code in the Code field or select F2 and select the asset
Click on the Green Tick button or press F9 to Accept. Note that if the asset has been previously activated and then the activation was undone, the delete button will not be available. In this case use the next option.
Delete an asset that is activated (or has been activated but the activation was undone)
Activate the asset if needed, the asset will need to be given a cost so add $0.01. The assets status should become Active.
Enter the appropriate transaction to reduce the cost to $0.00, for example:
If simply removing an asset record that is not required, then use Transactions, Assets, Create, Special Depreciation.
If the asset was sold then use a Transactions, Assets, Create, Disposal.
If the asset was fully depreciated in one year due to a change in tax law, then use Transactions, Assets, Create, Special Depreciation.
Go to Setups, Asset Management, Options and tick Auto delete historic assets at end of year.
Any assets with a status of Historic will be deleted when the next End of Period is run that is also an End of Year.