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Fully dispose Fixed Assets

Use the disposal workflow when an asset is leaving service entirely, resulting in a full asset retirement with the related journal-entry details.

Workflow

Step 1

Open the side menu

Use the highlighted control to continue through the workflow.

Step 2

Open Fixed Assets

Use the highlighted control to continue through the workflow.

Step 3

Open Register

Use the highlighted control to continue through the workflow.

Step 4

Select one registered Fixed Asset

Use the highlighted control to continue through the workflow.

Step 5

Dispose the asset

Use the highlighted control to continue through the workflow.

Step 6

Choose Disposal Date

Choose the option that matches the account, period, or schedule you are working with.

Step 7

Select 8

Use the highlighted control to continue through the workflow.

Step 8

Choose Disposal Method

Choose the option that matches the account, period, or schedule you are working with.

Step 9

Enter Selling Price

Enter the required values carefully so the schedule and journal-entry details calculate correctly.

Step 10

Enter Selling Fee

Enter the required values carefully so the schedule and journal-entry details calculate correctly.

Step 11

Review the journal entry

Choose the option that matches the account, period, or schedule you are working with.

Step 12

Select Cash/Receivable

Use the highlighted control to continue through the workflow.

Step 13

Enter "cash"

Enter the required values carefully so the schedule and journal-entry details calculate correctly.

Step 14

Select Loss on Disposal

Use the highlighted control to continue through the workflow.

Step 15

Enter "loss"

Enter the required values carefully so the schedule and journal-entry details calculate correctly.

Step 16

Select Gain/Loss on Disposal of Fixed Assets

Use the highlighted control to continue through the workflow.

Step 17

Select Expense Account

Use the highlighted control to continue through the workflow.

Step 18

Select Selling Expense

Use the highlighted control to continue through the workflow.

Step 19

Dispose the asset

Use the highlighted control to continue through the workflow.

Step 20

The disposed Fixed Assets will not be listed under REGISTER

Use the highlighted control to continue through the workflow.

Before disposing

Confirm the disposal date, method, proceeds, fees, and gain or loss account before saving the disposal.

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