Caution: Please be advised to let your Accountant or Adviser to manage this.
- Go to Item you want to dispose/sell.
- Click Option > Dispose
- Choose type of Disposal - Dispose or Sell
- For Dispose, you need to enter the Date Disposed and click Review Journal. Select the appropriate Gain/Loss on Disposal.
- Click on Post.
- For Sell, you need to enter the Sale Proceed (the selling price) and select the appropriate Sale Proceeds Account.
- Click Review Journal.
- Select the appropriate account for Capital Gain or Gain/Loss on Disposal.
- Last, click Post.
Terms to Understand
Capital Gain - Capital gain when the sale price is higher than the cost price
Gain on disposal - gain when the sale price is higher than the book value
Loss on disposal - loss when the sale price is lower than the book value