Could not find this specific question/answer in the topics on Assets. So, my balance sheet has fixed assets that have been fully depreciated and have been retired years ago on it. We did not sell them or trade them in, just disposed of them. How do I remove them from my balance sheet in QB desktop 2017?
If you still own them they would remain on the balance sheet. They effectively have a zero value even if you retain the acquisition value as the asset value and post all accumulated depreciation in a single account (I do).
Disposed of is different. How disposed? Put out with trash? Put them on a Sales Receipt at zero sales price. Taken to recycle for $100/ton? Sell them for salvage cost and recover the depreciation taken as ordinary income (or just claim the cash as income, still selling them at zero)
Final step is making them "inactive"
Yes, put to the trash. I have made them inactive but they still show up on the BS.
You have to make an entry to get them off the balance sheet, set the accounts to active
create an income account called gain/loss on assets
journal entries (in the memo block of each, enter something like "asset disposed of in trash"
debit gain/loss for the value in the accumulated depreciation account, credit gain/loss
debit gain/loss, credit the fixed asset account for the value in that account
then you can make the zero balance fixed asset and accumulated depreciation accounts inactive
gain/loss should show a zero balance if cost was fully depreciated