Dispose of an asset

When an asset is disposed, the system performs a final depreciation calculation through the disposal date. Because of this, depreciation expense appears in the month of disposal. Disposals remain on current year reports, like the Depreciation Expense Report, until the following year. 

If you need an asset to show no remaining net book value, fully depreciate it first. See How to fully depreciate an asset and dispose.

In Sage Fixed Assets - Depreciation

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

Important Information

• Run the Disposal Worksheet by clicking the Worksheet button. This provides a breakdown of the disposal and the Gain/Loss calculations
• Depreciate the asset before it will appear on any report, regardless of the disposal or current thru date.
• If the Disposal is in a prior period, adjust the general ledger accounts the asset belongs to
• You can’t dispose of an asset before any of the following dates in any book:
  • Beginning Date
  • Current Thru Date
  • Period Close Date
  • Placed-in-Service Date
• Run depreciation to a period before the date of the disposal for all books
• A disposal is a calculation of depreciation. The system will perform a final calculation of depreciation for the asset. This will show a depreciation this run. An asset will still have any remaining net book value after a disposal, unless the disposal calculation fully depreciates the asset.