Place an asset out of service

When the client takes an asset out of service, Onvio Fixed Assets stops taking depreciation after the date it is placed out of service. The asset remains until the disposal method is changed to Casualty / Theft, Sold / Scrapped, or Like-Kind Exchange, even if the period is advanced. In addition, Onvio does not include out-of-service assets with disposals on any report or form.

Follow these steps to place an asset out of service.

  1. Open the asset in Onvio Fixed Assets, then open the Disposal tab
  2. Select Out of Service from the Disposal Method drop-down.

Note: If the application calculates prior depreciation after an asset is placed back in service, it calculates the entire prior depreciation as if the asset were never placed out of service.


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