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.
In Solo Superstars
Computed for you at disposal time. Shows below operating expenses on the Income statement so it does not look like a change in the core business.
Example
Proceeds 1,600 − book value 1,440 = gain 160. Proceeds 0 on a laptop with 300 book value = loss 300.
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
- gain on sale
- loss on sale
Related
- Disposal — Selling, scrapping or giving away a fixed asset. Removes its cost and accumulated depreciation and books any gain or loss.
- 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.
- Other income / expense — Money earned or spent outside normal operations: bank interest earned, interest paid, penalties, reconciliation discrepancies.