DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Reverse Fixed Asset Disposal


#1

I have ‘disposed’ a fixed asset, which I thought would be the way to enter the ‘sale’ of the asset, however it now is not showing in my financial report and I cannot find it anywhere. Can I reverse this disposal please?


Disposed Fixed Assets and Intangible Assets Still Show on Balance Sheet
#2

Go to Fixed Assets, click Edit on asset you have disposed and untick the checkbox Disposed fixed asset.

Sale is not recorded by ticking Disposed checkbox.

If you are selling fixed asset through sales invoice, then use Fixed assets account, then select asset you are selling.

If you are categorizing deposit in your bank account which is for the sold fixed asset, then again use Fixed assets account, then select asset you’ve sold.

Once you record this transaction, go back to Fixed assets tab and finally mark that asset as Disposed so the asset book value will be deducted from balance sheet and difference between acquisition cost, depreciation expense and sale price will be posted as profit or loss on fixed asset disposal on your profit and loss statement.


Sale of fixed asset; sales invoice; asset account not visible
#3

Thanks Lubos. I felt a bit foolish when I saw your solution for the reversal, how did I not find that? Thanks also for the other info.