Selling or Disposing of an Asset

When a fixed asset is at the end of its useful economic life, you can dispose of it either by selling it, trading it in on a new model, or throwing it away.

To sell or dispose of an asset:

Double click on the asset on the Search screen to show the Details tab for that asset.
Select either Sold or Disposed of in the Status section.

Extra fields display at the bottom right of the tab:

Enter values for each field:

Field	Description
Date Sold	The date the asset was sold or disposed of.
GL Period	The General Ledger period to which to post the sale or disposal transactions.
Selling Price	The selling price of the asset (excluding GST). This field only applies when the asset is being sold.
Invoice number	The invoice number of the asset.
Depreciate book value in year of sale	Select this option to book/accounting depreciation in the year of sale.
Depreciate tax value in year of sale	Select this option if to include tax depreciation in the year of sale.

Click Save.