Disposal Asset

[Former Member]

Hi expert,

Company Local Currency is GBP. The revenue from disposal is AUD 800,000.

How to input different currency? The amount is Dr Bank. What is the entry

through ABAON?

Regards

Ann

[nishan_dev · Accepted solution]

Hello Ann;

There are three easier way by which you can dispose an asset -

1.Scrapping Asset - ABAVN

2.Sale of asset with revenue - F-92

3.Asset retirement without revenue - ABAON

And it seem like you are trying to do with ABAON which is asset sale without customer -

Asset Scrapping will have this journal entry:

Cr   Asset Cost

Dr   Accumulated Depreciation (Acc. Dep)

Dr   Loss on Sale of Asset

This how it works -

Retire Asset by reducing asset cost (Cr Asset Cost) and reverse Acc. Dep posted (Dr Acc. Dep)

Calculate loss (Asset cost - Accumulated Depreciation)

Based on set up of GL Determiniation, Journal entries get posted.

Cr - Fixed Asset

Dr - Accumulated Depreciation.

Dr - Loss.

Thank you,

Nishan Dev

[Former Member · Accepted solution]

Thanks, the problem is solve

[Former Member]

Post a Asset retirement entry thru F-02.

try it.

Thanks

Sudhir Krishna Kumar Singh