Forum Discussion

Ravinder's avatar
Ravinder
Experienced User
3 years ago

Delete Asset account

Hi  Could you please advise if I can delete the asset account (Motor vehicle)?  I used this asset account only once in the year 2019 to claim depreciation for the vehicle used for business purposes....
  • gavin12345's avatar
    gavin12345
    3 years ago

    Hi Ravinder 

     

    A personal vehicle generally doesn't/shouldn't appear on a business balance sheet. As suggested discuss this with your tax adviser or accountant - they will know more about your business and your balance sheet and can advise where any amounts should be transferred to. 

     

    Regards

    Gavin