FA Sale

When selling a fixed asset, the disposal amount must be posted in order to calculate and record profit or loss. The write-off entry must be the last entry posted to the fixed asset.

Note
Sale is possible only for fixed assets with the Inventory, Operation, For Sale statuses.

Settings

Before selling a fixed asset, it is necessary to set up Fixed Assets Setup:

1. Select the option in the Disp. without Writeoff Act field if you don't need to create a Fixed Asset Write-off Act to account for the sale. Disable this option if you need to check for the presence of an accounted FA Write-off Act in the system.
2. Enable the Autom. Derp. Books WrittenOff setting if you want the asset value to be written off from all depreciation books when it is sold or written off.

Sale and View of Sale Entries

When selling a fixed asset, the sale amount is posted to the General Ledger where the result can be viewed.

1. Create Sales Invoice.
2. On the Lines tab, Type and No. fields, select the required fixed asset to be sold.
3. Post the Sales Invoice.
4. Click to open Search, enter Fixed Assets, follow the link.
5. Select the fixed asset the entries of which you want to view from the list, click Related > History > Ledger Entries.
6. Select a line with Disposal value in the FA Posting Category field, then click Find Entries....
7. On the Find Entries page, select the G/L Entry line and click View.
   The General Ledger Entries page opens where you can view entries created as a result of posting a sale.

Return and Reversal of Fixed Asset Sale

To process the return of a sold fixed asset or reverse the sales transaction, you can use the Sales Credit Note document:

1. Click the button to open the Search function, enter Sales Credit Memos, and select the appropriate link.
2. Click New to create a new document.
3. Click Preparation > Copy Document to populate the fields of the credit note.
4. Enable the checkbox in the Correction field if you need to reverse the fixed asset sales transaction. For return operations, this checkbox should be disabled.
5. Click Post.

Note:
For fixed assets, you cannot create a sales credit note using the Create Corrective Credit Note function on the accounted sales invoice page.

See Also

Fixed Asset Card
Creating a Fixed Asset card
FA acquisition and distribution of additional expenses
FA Release Act
Transfer Item to FA
FA Write-off