Disposal of fixed assets is accounted for by removing cost of the asset and any related accumulated depreciation from balance sheet, recording receipt of cash and recognizing any resulting gain or loss in income statement.
72.3 Single Asset Disposal (P12105) Processing OptionProcessing Options Requiring Further Description LEDGER TYPE SELECTION: 1. Enter ledger types to be disposed. If none are selected, entries will only be created for the AA ledger. ACCOUNT AND BALANCE SECURITY: 2. Enter "1" to prevent ...
In the straight-line depreciation method, the cost of a fixed asset is reduced equally in each period of its useful life till it reaches its residual value.
*Note that this is called aprepayment. A prepayment of a future expense is an asset and is counted as part of debtors - this is because you paid the expense before you should have, so it's like your business is owed the money right now for paying to early. Note that prepayments are ...
Fixed Asset Setup Fixed Asset Statistics Fixed Assets Setup Ins. Coverage Ledger Entries Insurance Card Insurance Journal Insurance Journal Batches Insurance Journal Templates Insurance List Insurance Registers Insurance Statistics Insurance Types Main Asset Components Main Asset Statistics Maintenance Maintenance ...
In the Expense code field, select the expense or income code that is used for the account entries that should be transferred to the tax register. In the Condition name field, enter the name of the expense code. On the Setup FastTab, set the Type option and the Fixed assets type field....
The accounts that have been set up for fixed asset transactions in theFixed asset posting profilesform are used in the posting of fixed asset budget register entries to the ledger budget. The transaction type, fixed asset account, and value model on the budget journal line are used to find ...
Use the default financial dimension values from the ledger account in theChart of accountsform. Free text invoice line for a fixed asset number and value model combination 注意 The main account on the free text invoice line will be the fixed asset...
An insurance is normally recorded as an asset (Prepaid insurance) upon purchase or release of payments, in the general journal. To account for the... Learn more about this topic: Journal Entries & Trial Balance | Differences & Examples ...
Enter or view information about the fixed asset that is related to the selected invoice line. Remittance View the name that was specified for the location where payments are sent, and view or revise the mailing address of that location. This is the mailing address that is printed on remittance...