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Hi All
i have a fixed asset
having a current book value 1033 SAR
we sold it for 9000 SAR
When i try to dispose this asset through free text invoice, the financial values are not coming correctly
Can anyone tell me what steps should be taken
What are the steps to to get rid of this asset and to record the proper financial transactions
Where the total profit/loss shoud be 9000-1033 = 7967 SAR
Regards
Yousaf
Hi Yousaf,
The process for selling the fixed asset is easy and I think that you did it correctly.
You select the fixed asset in the free text invoice, enter the sales price and ensure that the item sales tax group and sales tax group default correctly. Finally, you post the free text invoice.
If your accounting entries are not correct then the setup of your fixed asset posting profile is probably wrong.
What you can do is comparing your fixed asset posting setup with the one that you can find in the Microsoft USMF contoso environment. The setup there is made in a way that the accounting entries are correct when it comes to selling fixed assets. Note: The setups made in this company and the way how postings are made represent only one out of multiple ways how it can be setup. As a result, you have to check whether you want to have the postings this way or in a slightly different way.
Best regards,
Ludwig
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