Attaché Asset Management: Dispose of an asset

Receipt of the proceeds in the GL, if any, which should be posted to the Disposals Clearing Account.

Enter the Disposal transaction in Asset Management. Asset Management will then create all GL entries for the disposal.

In Asset Management go to Setups, General Ledger, Options and note which account is set as your Disposals Clearing Account.

Check the GL Set for the asset that has been disposed by checking the allocated GL Set, go to Masterfiles, Assets, Enquire.

Look up the disposed asset by entering its Code or use Find (F2) to search for its code.

Select the Financial Info tab.

Note the GL set code on the Asset Masterfile.

Go to Setups, General Ledger Sets, Enquire and enter the Set Code to view the posting accounts for the GL set code.

Note the Disposal Profit and Disposal Loss accounts. These are the accounts that the gain or loss on disposal will be posted to.
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Go to Transactions, Assets, Create.

Select the Disposal tab.

Enter the disposed asset's code at Code.

Enter the Disposal Date, Proceeds of disposal if any, the percentage or quantity disposed (if only part of the asset or some of the assets was/were disposed, otherwise don't change these fields) and any Removal costs if applicable.

Check the summary of values for each Regime in the lower section of the screen, specifically note the calculated profit / loss.

Make amendments if needed otherwise record the transaction by Accept (F9).

To send the transaction to the GL if you use Attaché General Ledger use Transactions, General Ledger, Transfer.

Update the GL using Post from Other Modules as per your normal procedure.

A receipt journal: General Ledger, Transactions, Transactions, Receipts.

A customer invoice using a Sundry line posted to the Disposals Clearing Account and the receipt received against the invoice as a customer payment.