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Fixed Assets Disposal

Fixed Assets Disposal

Remove an asset from the books when it is sold, scrapped, or donated.

How to Dispose

  1. Select the Asset
  2. Choose Disposal Type - Sale, Scrap, or Donation
  3. Enter the Disposal Date
  4. Enter Disposal Amount (sale proceeds, if any)
  5. The system calculates gain or loss on disposal
  6. Click Process

Accounting Impact

  • Asset cost is credited from the asset account
  • Accumulated depreciation is debited
  • Gain or loss is posted to the configured disposal GL account

See Also