Retiring Asset with Non-Zero Net Book Value

Hi,
I have recently started handling Fixed Assets and I have some doubts
about the retiring assets

in GP, When an asset is retired and has not been fully depreciated,
the net book value is calculated as cost basis less LTD depreciation.
Can anybody explain the underlying accounting concept for keeping the
net book value. When an asset is retired, it means this asset has no
value for the company. Isn=92t it so ?

Is there any way in GP to make net value zero when it is retired ?
Thanks.

-1
rubal_pal (3)
1/21/2009 9:22:17 AM
greatplains 29623 articles. 6 followers. Follow

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