FA: What is the difference between with Disposal P&L and Self Profit for Disposal Double Entry?

Question: What is the difference between with Disposal P&L and Self Profit for Disposal double entry?

Answer:

There are 2 posting options for Disposal double entry. In order to see the difference, set Posting Journal Method to Details.

Disposal Double Entry - Self Profit

This option will post the net amount to Profit/Loss On Disposal Account.

Disposal Double Entry - With Disposal P&L

This option will post each double entry to Profit/Loss On Disposal Account.

The account 550-0000 PROFIT/LOSS ON DISPOSAL is read from Asset Type maintenance’s Profit/Loss Acct Code.

The account 310-CIMB CIMB BANK is Disposal price posting account that selected by the user. Disposal Price is the price of disposal during trade in, sell off & etc. This is for non-write off disposal only.

If the asset was written off, here is the double entry if use With Disposal P&L.

The account 916-0000 WRITE OFF OF ASSET is read from Asset Write off Acct Code.

By: Lay Swan 230315, P230320

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