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How to perform a disposal

Created on  | Last modified on 

Summary

Steps to dispose an asset.

Resolution

Note: Calculate Depreciation for the month before the month of disposal on the asset before disposing. This will ensure the Depreciation this Run and Gain/Loss calculates correctly.


In Sage Fixed Assets - Depreciation:

  1. Go to the Asset List view and select asset or Asset Detail.
  2. Click Dispose an asset from Tasks.
    Alternatively: From the top menu, click Asset, Dispose...
  3. On the Disposal screen enter the Disposal Date, Disposal Method, and (if applicable) Cash/Non-cash proceeds or Expense of Sale.
  4. Click Calculate to calculate the Gain/Loss.
  5. Click OK to save the disposal.

Notes:

  • Run the Disposal Worksheet by clicking the Worksheet button. This provides a breakdown of the disposal and the Gain/Loss calculations.
  • Regardless of the Disposal Date or Current Thru date of the asset, you must calculate Depreciation before the asset will appear on any report.
  • If the Disposal is in a prior period, adjust the general ledger accounts the asset belongs to.
  • You cannot dispose an asset on a date that prior to the Beginning Date, Current Thru Date, Period Close Date or Placed-in-service Date of ANY book in the asset. You must run depreciation to a period prior to the date of the disposal for all books.


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