As each asset is created several events take place against this asset that gives the asset its specific depreciation characteristics. These events include purchase date and cost, first use date, tax & accounts depreciation settings, reassessments and transfers among others. These events are stored chronologically against each asset and make up the story that creates unique and auditable depreciation.

To delete an asset, there is a rather simple process that has to be followed to ensure this does not happen by mistake. You need to reverse each event that has taken place against an asset to unlock the delete button. In this example, we 'Reverse Opening Balance', 'Reverse First Use' & 'Reverse Purchase'. Located near the top centre-right of the window when viewing an individual asset.

  • Select the asset you would like to delete,

  • reverse all the events attached to this asset,

  • Select the delete button. (Once all events are revered you will be able to use the delete button).