Disposal
Selling, scrapping or giving away a fixed asset. Removes its cost and accumulated depreciation and books any gain or loss.
In Solo Superstars
Record it on the asset’s page with the date and proceeds. The app posts one entry that clears the asset and its depreciation and puts the difference in gain or loss.
Example
Sell the desk for 1,600 with book value 1,440: debit 1010 1,600, debit 1590 960, credit 1500 2,400, credit 4950 Gain 160.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- sale of asset
- retire an asset
Related
- Fixed asset — Equipment, vehicles, furniture or property you will use for more than a year. Recorded at cost and depreciated, not expensed.
- Gain / loss on disposal — The difference between what you got for a fixed asset and its net book value. Gain is other income; loss is other expense.
- 4950 Gain on Disposal of Assets — Income recognized when you sell or scrap a fixed asset for more than its net book value.
- 6950 Loss on Disposal of Assets — The loss recognized when you sell or scrap a fixed asset for less than its net book value.