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wondering if there is a document out there that fully explains the retirement process.
My first question is regarding receiving cash for the sale of an asset. It appears that this does not update bank rec. I have advised my client to do a deposit without receipt to reflect the cash received. Is this the recommended solution?
Also we have been doing some testing and it seems that when you populate the cash and non cash proceeds fields the system adds these 2 numbers together and posts them to the cash account. Why would it post non-cash proceeds to cash? I don't see a place to assign an account for non-cash proceeds.
What exactly is the cost field for in the retirement window?
When we populate the cost of sale field it posts to depreciation expense. What if we want to use a different account?
I also need some advice on what if their is a sale of an asset and my client wants to setup a notes receivable? They are selling a truck and will be receiving payments with interest on it. Would like to setup the notes receivable in AR. Need to show sale of assets in FA.
Thanks
Rachel
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