1. Select the date in which the asset was disposed of.
2. Input the sales proceeds received.
3. This is the account in which the actual proceeds received have gone into.
4. Fixed assets are not usually depreciated during the year of disposal, unless your accounting policy says otherwise, select no depreciation from the drop down. 5. The disposal summary details the original cost, accumulative depreciation to date, sales proceeds and the gain or loss on disposal. 6. Once happy with the information, select Review Journals. This will take you to below screen where you need to select the Profit/Loss on disposal account from the drop down menu and post the journal if happy.
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