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yennyord
Level 1

Need a Gain/Loss on Sale of Asset' account but it is nowhere in the COA.

I need to record gain on sale of a property.  i don't see gain/loss on sale of asset as a choice under Income or Other Income categories in the COA.  What can I do?  I have QB Online.  Thanks
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Best answer October 15, 2018

Best Answers
vpcontroller
Level 11

Need a Gain/Loss on Sale of Asset' account but it is nowhere in the COA.

Select Chart of Accounts for Gain/Loss on Sales of Asset as Other Miscellaneous Income

  • Category Type: Other Income
  • Detail Type: Other Miscellaneous Income
  • Name: Gain/Loss on Sale of Asset
  • Description: Gain/Loss on Sale of Asset

View solution in original post

1 Comment 1
vpcontroller
Level 11

Need a Gain/Loss on Sale of Asset' account but it is nowhere in the COA.

Select Chart of Accounts for Gain/Loss on Sales of Asset as Other Miscellaneous Income

  • Category Type: Other Income
  • Detail Type: Other Miscellaneous Income
  • Name: Gain/Loss on Sale of Asset
  • Description: Gain/Loss on Sale of Asset

View solution in original post

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