How to raise invoice for sale of asset

Let me ease your confusion and help you from there, PoonamKumarJain.

You'll want to set up a non-inventory item for the equipment and then manually change the income account to the account where you want to post the transaction.

I'll show you how:

1. Go to the Sales menu and select the Products and services tab.
2. Select New and choose Non-stock.
3. Enter the necessarily required field.
4. Once done, click Save and close.

I've included some articles you can read for additional guide and reference:

• Add product and service items to QuickBooks Online.
• Change product and service item types in QuickBooks Online.
• Add a VAT category to your products and services.

Let me know if you have additional questions. I've got your back.

Thanks for your suggest. I have the following query.

I had purchased plant and machinery in April 2021 and added under Balance sheet. No product or services has been created. Now the same has been sold in December 2021. I am unable to raise the sale invoice as it is under fixed asset in Balance sheet. While passing journal entry for sale, the debtor amount is showing only taxable amount and not considering VAT amount.

What is the solution for the same. How to show sale and the total sale amount in debtor ledger. Kindly suggest.