Frequently
Asked Questions
Fixed Assets Software
Click on the question below to find the answer.
DEBIT
CREDIT Sold asset for book value:
Cash
X
Accumulated Depreciation
X
Asset Account
X
Sold asset for more than book value:
Cash
X
Accumulated Depreciation
X
Asset Account
X
Gain on Disposal of Fixed Assets
X
Sold asset for less than book value:
Cash
X
Accumulated Depreciation
X
Loss on Disposal of Fixed Asset
X
Asset Account
X
Disposal of Asset at book value:
Accumulated Depreciation
X
Asset Account
X
Disposal where book > zero:
Accumulated Depreciation
X
Loss on Disposal of Fixed Assets
X
Asset Account
X
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We need to set up policies on our Fixed Assets and don't know what to do.If you click on the link below, you will find an example of the Fixed Asset Policies that one of our Fixed Asset customers came up with and is using. This may be a good example to go by when creating your own policies.
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I keyed in an asset with the wrong original value amount. How can I change this?Do another ADD transaction and key in the amount. If the amount needs to decrease you would key in a minus first.
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