Difference between revisions of "Fixed Asset Disposal Entry"

From AutoCount Resource Center
Jump to navigation Jump to search
(Created page with "==Fixed Asset Disposal Entry== This is to maintain a disposal value for assets being disposed, so that Gain/Loss on Asset Disposal Report can be produced. '''<span style=co...")
 
Line 13: Line 13:
  
  
Click on ''OK''.  
+
Click on ''<span style=color:red>OK</span>''.  
  
'''Secondly''', create a journal entry for depreciation asset.
+
'''<span style=color:red>Secondly</span>''', create a journal entry for depreciation asset.
 +
 
 +
 
 +
[[File:FAD2.png]]
 +
 
 +
 
 +
Dr Depreciation 14400
 +
 
 +
Cr Accumulated Depreciation 14400
 +
 
 +
 
 +
'''<span style=color:red>Thirdly</span>''', go to ''<span style=color:red>G/L > Gain/Loss on Asset Disposal Report</span>''
 +
 
 +
Click on ''<span style=color:red>Inquiry</span>''
 +
 
 +
[[File:FAD3.png]]
 +
 
 +
 
 +
The report shows that in this disposal:
 +
 
 +
Cost value of Motor Vehicle = 70,000.00
 +
 
 +
Accumulated Depreciation = 14,400.00
 +
 
 +
Disposal value (sold for) = 50,000
 +
 
 +
Loss in Disposal = 5,600.00
 +
 
 +
 
 +
And now you may complete the Journal Entry with these information.
 +
 
 +
''<span style=color:red>Journal Entry</span>'':
 +
 
 +
 
 +
[[File:FAD4.png]]
 +
 
 +
 
 +
 
 +
{{NavigateForUser}}

Revision as of 02:49, 5 April 2018

Fixed Asset Disposal Entry

This is to maintain a disposal value for assets being disposed, so that Gain/Loss on Asset Disposal Report can be produced.

First of all, go to G/L > Fixed Asset Disposal Entry

Click on New

Select fixed asset account, assign transaction date, key in description and disposal value:


FAD1.png


Click on OK.

Secondly, create a journal entry for depreciation asset.


FAD2.png


Dr Depreciation 14400

Cr Accumulated Depreciation 14400


Thirdly, go to G/L > Gain/Loss on Asset Disposal Report

Click on Inquiry

FAD3.png


The report shows that in this disposal:

Cost value of Motor Vehicle = 70,000.00

Accumulated Depreciation = 14,400.00

Disposal value (sold for) = 50,000

Loss in Disposal = 5,600.00


And now you may complete the Journal Entry with these information.

Journal Entry:


FAD4.png



Go to menu

IconAcc20.PNG AutoCount Accounting 2.0


IconAcc188.PNG AutoCount Accounting 1.8 / 1.9
Wiki-Payroll.png AutoCount Payroll
Wiki-POS.PNG AutoCount POS


Wiki-AOTG.PNG AutoCount On The Go
Wiki-Accounting-Plugin.png AutoCount Accounting Plug-In Documentations