Disposal of Fixed Assets

Disposal of Fixed Assets


Disposal of Fixed Assets:



Vehicle value S$50,000.00 current net book value S$20,000.00.

Disposal amount S$32,000.00.


Create a journal entry to taken off our Vehicle account and accumulated depreciation account

Adjustment > Journal Entry > New


Enter the information and save it



Enter received from disposal of Fixed assets

Sales > Receipt > New

Feature

Function

Click on < Sales > 

  • For Account Receivable module


Click on < Receipt >

  • To view history listing for Receipt
  • To enter receipt 



After done save it


Double entries for Fixed assets account 


Double entries for Accumulated Depreciation on Fixed assets account 


Double entries for Disposal of Fixed Assets account