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.
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 ...
General Journal Entries - Stock Withdrawal by: Anonymous 4 Apr: We take goods costing £340 out of the business stock without paying for them. 9 Apr: £68 of the goods taken by us on 4 April is returned back into stock by us. We do not take any money for the return of the goo...
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....
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...
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 ...
Journal Entries are summaries of debits and credits that indicates the effect of each and every transaction of the company, to the financial statement account balances.Answer and Explanation: An insurance is normally recorded as an asset (Prepaid insurance) upon purchase or release of paymen...
Voucher –Open the Voucher transactions form, where you can view the ledger journal entries for the payment transactions. View marked transactions –Open the Marked for settlement form, where you can view the transactions that will be settled. Balance control –Open the Balance control form, where...