Fixed Assets Freeze

Dear Wafeq Support Team,

We would like to check whether Wafeq currently provides an option to stop depreciation for a fixed asset from a specific date, while keeping all depreciation entries already posted.

For example, an asset may be disposed of, terminated, or no longer in use before the end of its original useful life. In such cases, depreciation should stop from the relevant date, while all historical depreciation entries should remain unchanged.

Currently, it appears that the only way to amend such an asset is to change its status back to Draft, which would clear all previous depreciation entries and require depreciation to be processed again.

Could you please confirm whether there is another way to handle this in Wafeq?

If this functionality is not currently available, we would recommend considering a feature such as “Stop Depreciation,” “Retire Asset,” or “Disposal Date,” allowing users to stop future depreciation without affecting previously posted entries.

Thank you, and we look forward to your guidance.

Amer