how do I record selling a fixed asset?

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how would I record selling fixtures and fittings? for $2500. The asset at cost is 6000 and depreciation is 4000
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Serena Theologidis

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Posted 5 years ago

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Charles van Rotterdam

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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
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Serena Theologidis

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so make an 'other income account' called gain on sale, then figure out the difference to balance out to 0?
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Charles van Rotterdam

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that's it though your asset account will show the difference going the other way
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Serena Theologidis

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Thank you!
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Serena Theologidis

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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

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