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 (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 the print journal program to check the entry.
Journal Entry is:
| Account | Debit | Credit |
|---|---|---|
| Uncleared FA Disposal (default account) | 11,300.55 | |
| Gain/Loss Disposal | 199.45 | |
| Acc Depr. | 1,000 | |
| FA Account | 12,500 |
Step B (This is only needed if the item is sold) The Invoice can be created in the FO Retail Sales program or Debit/Credit Note.
- A BDI should be created first before you can create the invoice. Go To the Breakdown item program and create the BDI, the BDI should be linked to the default account "Uncleared FA Disposal".
- Go to FO Retail Sales or Debit credit note to create the invoice