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R
rayc325
Level 2
December 7, 2019
Solved

How do I remove old assets from the balance sheet in Lacerte on 1120 but not generate a 4797?

  • December 7, 2019
  • 1 reply
  • 16 views

I want to remove scrapped assets from depreciation schedule and have the balance sheet updated automatically with out generating a 4797. If I enter none as sale price a form is generated.

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Best answer by George4Tacks

To remove fully depreciated, simply put in a sale date, NOT a sales price. This will likely not update the balance sheet, but it does clean up the depreciation report.

1 reply

George4Tacks
George4TacksAnswer
Level 15
December 7, 2019

To remove fully depreciated, simply put in a sale date, NOT a sales price. This will likely not update the balance sheet, but it does clean up the depreciation report.

Answers are easy. Questions are hard!
    S
    Short-timer
    Level 2
    March 11, 2020

    George, How do you propose getting the balance sheet in order then?

    sjrcpa
    sjrcpa
    Level 15
    March 11, 2020

    Aren't you working from a trial balance that balances?

    The more I know the more I don’t know.
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