Asset Disposal by Sale or Write-Off
The Fixed Assets Management SuiteApp lets you write-off or sell a simple or compound asset. When you dispose an asset during or at the end of its useful life, adjust the depreciation provision account so the balance shows the accumulated depreciation to date on assets you still hold.
During asset disposal, the system creates depreciation histories for the asset's accounting and tax methods (Depreciation History and Alternate Depreciation History Sublist). Disposal is applied to both accounting and tax methods and the sale amount is calculated separately for each method. For accounting methods, the amount is sourced from the Asset Current Cost in the FAM Asset record. For alternate or tax methods, the amount is sourced from the Current Cost in the FAM Alternate Depreciation record.
To sell or dispose an asset, read the following topics: