how do I record selling a fixed asset?

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Serena Theologidis
Serena Theologidis Member Posts: 5
edited January 2020 in Reckon Accounts (Desktop)
how would I record selling fixtures and fittings? for $2500. The asset at cost is 6000 and depreciation is 4000

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  • Charley
    Charley Member Posts: 544 ✭✭✭
    edited January 2020
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    If you have it in your 'fixed asset item list' then just make a sales receipt/invoice from that. It looks like you'll end up with a profit on sale which you might need to journal out of the asset account into an income account
  • Serena Theologidis
    Serena Theologidis Member Posts: 5
    edited November 2014
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    so make an 'other income account' called gain on sale, then figure out the difference to balance out to 0?
  • Charley
    Charley Member Posts: 544 ✭✭✭
    edited January 2020
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    that's it though your asset account will show the difference going the other way
  • Serena Theologidis
    Serena Theologidis Member Posts: 5
    edited November 2014
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    Thank you!
  • Serena Theologidis
    Serena Theologidis Member Posts: 5
    edited November 2014
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    This reply was created from a merged topic originally titled how do I record selling a fixed asset?. how would I record selling fixtures and fittings? for $2500. The asset at cost is 6000 and depreciation is 4000