Hi All
Is there a way to configure fixed asset setup so that Business Central can record Gain on Disposal and Capital Gains separately? This is a requirement for customer.
Definitions for the scenario we are trying to record:
- Capital Gain: This when you sell an asset for more than what it cost, i.e. you acquire an asset for $30,000 and then sell it for $35,000, therefore you have a capital gain of $5,000.
- Gain on Disposal: This is the Sale Price minus Book Value minus any Capital Gain, i.e. after one year, the asset has a book value of $20,000, which you sell for $35,000 and it cost you $30,000, therefore you have a gain on disposal of $10,000.
Can we configure the fixed asset module in a way to handle the above scenario? I.e. to record the Gain of Disposal as $10,000 and then another Gain as $5,000.
There are a lot of accounts that you can define on the FA Posting Group, and while most of the fields are self explanatory, I don't understand what the Custom Accounts are for:
Any sort of guidance about the Depreciation Book Setup, FA Posting Group Setup or any other Setup to achieve the above would be greatly appreciated.
Thanks in advance.
Manish.
