Selling or writing off an asset
When an asset leaves the business, sold, scrapped, stolen or broken beyond repair, record it on the asset. Fiscal removes its cost and depreciation and posts the gain or loss.
Before you start
Run depreciation up to the month before the disposal date (see Running depreciation). Nothing is charged for the month of disposal.
Sell an asset
- Open the asset in the register and click Sell.
- Check the Cost, Accumulated depreciation and Book value.
- Enter the Date, the Sale Amount (excl. VAT), and the account the Money Received In (bank, cash or a receivable).
- The dialog shows the Gain on sale or Loss on sale: the sale amount minus the book value. Add a note and confirm.
Selling an asset here doesn't charge VAT. If VAT applies to the sale, also issue a sales invoice for it separately.
Write an asset off
Click Write Off, enter the date and a note, and confirm. The remaining book value is posted as a Loss on write-off.
What is posted
The asset's cost and accumulated depreciation are removed, the money received is recorded, and the difference goes to the category's Gain on Disposal or Loss on Disposal / Write-off account. The asset becomes Sold or Written Off. If it was a mistake, click Undo Disposal on the asset.