Fixed Assets - Write Off

1

I have a problem in writing off an Asset.

My Problem is as follows: I purchased 4/5 chairs which were recorded as an Asset. Now I would like to write off couple of them. If i go to fixed asset, edit that particular Asset and click on ‘Disposed Fixed Asset’, the value for the remaining 2/3 Assets also get written off. Unfortunately there are no Quantities in “Fixed Asset”.

How do I achieve in writing off values for only 2 nos of a Fixed Asset.

2

You have two options:

  1. Add each chair as a separate asset so they then can be disposed of individually, or
  2. Write off your existing asset (all chairs) and then by Journal, re-instate the remaining chairs at the pro-rata cost
1 Like
3

Thanks Brucanna for your suggestions… I preferred to go with the 1st option… ‘separate asset’.

4

Or you can simply make a journal entry and credit fixed asset by the write-off amount.

Still, the first option (track each fixed asset separately) is the way to go.