What action must be taken when a depreciated asset has a start date on or before an all users lock date?

When a depreciated asset has a start date on or before an all users lock date, it cannot be deleted. This is because Xero implements a lock date to maintain the integrity of financial records, ensuring that historical data remains intact and unaltered. The lock date is particularly important for accounting practices as it prevents any retrospective changes that could distort financial statements or reporting.

With assets that have been depreciated, their historical data contributes to the overall financial picture, and deleting them could lead to discrepancies in both asset management and financial reporting. Therefore, the system restricts the deletion of such assets to preserve data accuracy and compliance with accounting standards.

In contrast, while other actions such as archiving or editing may be options for assets that do not fall within this restriction, the key point is that any asset associated with a past period that is locked must remain in the system to ensure reliable financial reporting and asset tracking.