Dispose Fixed Asset

You use this window to dispose a fixed asset. This needs to be done when a fixed asset has ended it's life-cycle and has no more value for your company. If the asset has been fully depreciated you do not need to manually dispose the asset. It will automatically be disposed when its balance reaches zero.

You only dispose the fixed asset manually if the real value of the fixed asset becomes zero, before it has been fully depreciated in your accounts. Usually, this only happens if the fixed asset has been sold or destroyed and cannot be used anymore. If you have returned the asset to the supplier and it has been credited, you also need to dispose the fixed asset manually.

Asset Information

At the top of the window you will see a box containing all the important information about the asset's current status.

How to Dispose the Asset

Disposal Method

You can find more information regarding selecting a disposal method here.

You need to select the disposal method for the asset. There are three methods for doing this:

1. Write-off Asset
2. Asset Sold
3. Asset Credited

Text

In this field you should enter the reason for why you are disposing the asset. This text will appear on the transaction that is posted to remove the asset from your accounts.

Date

Enter the date the asset is disposed.