Dispose of or Retire Assets
When you sell or otherwise dispose of a fixed asset, the disposal value must be posted. The program calculates the gain or loss. A disposal entry must be the last entry posted for a fixed asset. For partially disposed fixed assets, you can post more than one disposal entry. The total of all posted disposal amounts must be a credit amount.
To post a disposal transaction to a depreciation book for which disposal has G/L integration, use an FA G/L Journal.
To post a disposal transaction to a depreciation book for which disposal does not have G/L integration, use an FA Journal.
Note
If you trade in a fixed asset for another one, you must record both the sale of the old asset (disposal) and the purchase of the new one (acquisition). This kind of transaction cannot be recorded as a single transaction.
The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.
| To | See |
|---|---|
Use an FA G/L Journal to post a disposal transaction to a depreciation book for which disposal has general ledger integration. |
How to: Post Disposal Transactions from Fixed Asset General Ledger Journals |
Use an FA Journal to post a disposal transaction to a depreciation book for which disposal has no general ledger integration. |
How to: Post Disposal Transactions from Fixed Asset Journals |
View disposal ledger entries. |
|
Split an asset that you have partially sold or disposed of before recording the disposal transaction. |
|
Delete a fixed asset. |
See Also
Tasks
How to: Budget Disposals of Fixed Assets
How to: End Insurance Coverage of Fixed Assets