This program takes care that the disposal of fixed assets that have been registered in the FA Register can be disposed of whereby the loss/gain on disposal will be booked and the FA will be disposed of.
- Book value = assetPurchasePrice
/accumulatedDepreciation, on mouse over the formula will be shown. - Tax is NOT mandatory
- Loss Gain = Amount Sold Excl Tax
/Book value, this can be positive as well as negative.
How to Use it?
E.g. Computer was purchased for 9,000 24 months depreciation. After a month the computer is sold for 1,500 cash no tax.
The journal is:
Purchase Account Credit = setPurchasePrice, 9000
Accumulated depreciation account Debit = accumulatedDepreciation, 2,400
Cash Debit = 1,500
Loss Gain Credit = 300, this regardless if the account is a PLC or PLD account.