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service-vpnz-co-
Level 1
posted
‎March 19, 2024 10:59 AM
last updated ‎March 18, 2024 4:59 PM

Sale of a fixed assest

Could someone please help me record the sale of a fixed assest? do i just log it under bank deposit (vehicle assesst) do i need to do anything else?
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1 Comment 1
IntuitSheila
Level 8
‎March 19, 2024 11:21 AM

Sale of a fixed assest

Hello service-vpnz-co-,

 

Thanks for posting in the Community!

 

There are different ways to record an asset sale in QuickBooks Online. You're correct in recording your asset sale using a deposit and using the same asset account you initially used to record when you acquired the asset.

 

We could also record the sale of an asset via journal entry. With regards to the posting accounts, we would recommend seeking advice from your accountant.


I found a thread related to your scenario. Please open this link: https://intuit.me/31C6k5Q

 

You can always post back if you have further concerns.

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