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.
- Fixed Asset Name= on mouse over the barcode will be shown.
- 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. - Date Sold = Disposal Date
How to Use it?
Step A (First journal of Disposal)
- Select the Item category of the item you are going to dispose of.
- Select the row and click on "edit".
- Enter the amount sold even if the value is zero. Automatically the loss/gain is calculated.
- Account Loss/Gain: Select the disposal account that will be used for the journal.
- Select the Date of disposal.
- Click "Submit " when done.
7. Go to GL Journal or print journal program to check the entry.
Journal Entry is:
Account | Debit | Credit |
---|---|---|
Uncleared FA Disposal | 1500.50 | |
Uncleared FA Disposal | 199.50 | |
Acc Depr. | 300 | |
FA Account | 2000 |
Step B (Second journal, to book the actual sales of the FA if the item is sold)
- Select the Item category of the item you are going to dispose of.
- Select the row and click on "edit".
- Enter the amount sold even if the value is zero. Automatically the loss/gain is calculated.
- Account Loss/Gain: Select the disposal account that will be used for the journal.
- Select the Date of disposal.
- Click "Submit " when done.