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Fixed Asset Retire not fully posting

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Posted on by Community Member

Hi,

I am trying to retire a fixed asset that we sold, but when I go to GL posting, the only journal entry is the one clearing the accumulated depreciation to the asset account. There is no journal entry for the proceeds, expenses or removal of the asset.

This is the first time we have had to retire an asset. I checked the settings and the related GL accounts are correct.

Does anyone have an idea of what might be going on here?

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