[GNC] Deleting an account

[Michael or Penny Novack]

On 4/14/2023 4:51 PM, Gyle McCollam wrote:
> I have a fixed asset account for an automobile with subaccounts for the purchase cost and depreciation.  I am selling this car and purchasing a new car. How do I delete the old car from my COA without messing up the financials as there have been debits and credits to the 2 subaccounts.  The parent account at this point has a zero balance as the vehicle is fully depreciated.
>
You don't delete it (it would indeed mess up all those transactions)

It's no longer needed, balance is zero, just HIDE it. Do note that if 
you dispose of this fully depreciated asset for a gain, you will have a 
capital gain to record that transaction << but that wouldn't involve 
this account >>


Michael D Novack