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Dispose of a fixed asset as scrap

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Posted on by 187

Hi! 

I have a question, how can I scrap a fixed asset (dispose of a fixed asset as scrap) in NAV? Just for fixed assets that are no longer in use due to the fact that it is no longer in use or destroyed). I would really appriciate a step-by-step description if possible. 

Thanks in advance! 

Best regards,
Eva

  • Suggested answer
    Community Member Profile Picture
    Community Member UG Leader on at
    RE: Dispose of a fixed asset as scrap

    Eva,

    Since you are most likely integrated to the General Ledger and you are disposing of the Fixed Asset with no monetary gain, open the Fixed Asset G/L Journal.

    You will enter the Posting Date and FA Posting Date, the Fixed Asset to dispose, FA Posting Type = Disposal. I am guessing your Asset has 0.00 Net Book Value so the disposal will close out the Asset on the Balance Sheet with no Gain/(Loss) on Disposal. If their is residual value this will book the G/L Account on Disposal (Loss).

    Hope this helps.

    Thanks,

    Steve

  • Eva Profile Picture
    Eva 187 on at
    RE: Dispose of a fixed asset as scrap

    Hi yzhums,

    Thanks a lot, really appriciate it!

    Best regards,

    Eva

  • Eva Profile Picture
    Eva 187 on at
    RE: Dispose of a fixed asset as scrap

    Hi TeddyH,

    Thank you very much!

    Best regards,

    Eva

  • Verified answer
    YUN ZHU Profile Picture
    YUN ZHU 59,873 Super User on at
    RE: Dispose of a fixed asset as scrap

    Hi, select Disposal in FA Posting Type field on the FA G/L Journals page.

    More details:

    https://docs.microsoft.com/en-us/dynamics-nav-app/fa-how-dispose-retire

    pastedimage1649292526254v1.png

    Hope this will help.

    Thanks.

    ZHU

  • Verified answer
    TeddyH Profile Picture
    TeddyH 12,720 Super User on at
    RE: Dispose of a fixed asset as scrap

    Check this one. Look at Disposing a Fixed Asset by Posting a Fixed Asset G/L Journal.

    wiki.chasesoftware.co.za/.../How to: Dispose a Fixed Asset

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