Sell an Asset

To sell an asset, open the asset record and create a Sales Invoice by clicking on "Sell Asset". On submission of the Sales Invoice, following entries will take place:

  • "Receivable Account" (Debtors) will be debited by the sales amount.
  • "Fixed Asset Account" will be credited by the purchase amount of asset.
  • "Accumulated Depreciation Account" will be debited by the total depreciated amount till now.
  • "Gain/Loss Account on Asset Disposal" will be credited/debited based on gain/loss amount. The Gain/Loss account can be set in Company record.

Asset

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