News Focus
News Focus
icon url

learningcurve2020

01/03/26 6:43 PM

#806746 RE: QL300 #806718

I know if it’s stolen/lost it can be written off. 🤷‍♀️

Common Scenarios for Removal
Sale: Remove the asset and record proceeds, gain, or loss.
Trade-in: Remove the old asset and add the new one, adjusting values.
Stolen/Lost: Remove the asset and record a loss.
Scrapped/Abandoned: Remove the asset, often resulting in a loss if it has remaining book value.
Fully Depreciated: If still in use, it stays on the books at zero book value; if disposed, its cost and depreciation are zeroed out.
icon url

CaptainObvious

01/03/26 9:18 PM

#806776 RE: QL300 #806718