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?
Fixed Assets, click
Edit on asset you have disposed and untick the checkbox
Disposed fixed asset.
Sale is not recorded by ticking
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
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.