Retiring an asset in FE WebView

Tammy Capps

How do you retire a fixed asset in FE WebView? There will be a loss since the asset has not totally depreciated.

Blake Paradise

@Tammy Capps Hi Tammy! You can dispose of an asset by going to the asset record and clicking dispose. Here are some screenshots to help

Tammy Capps

@Blake Paradise
Thank you, Blake, for replying to my post and for the screen shots. It was very helpful.

I am struggling with getting the system to hit the correct account numbers.
I am not sure, but we may need to change a setting in fixed assets.

The Journal should be as follows:

Debit to the Accumulated depreciation account for $226.36.

Debit to the loss account for $419.39

Credit to the equipment account for $645.75

Do you have any suggestions?

Blake Paradise

@Tammy Capps
Hi tammy! Unfortunately, I will be able to give you guidance there since I am not a CPA. However, there are settings in the fixed asset module for disposal loss/gain/proceeds. Here is a screenshot of that

Tammy Capps

@Tammy Capps
Blake, again you have been a big help. I am going over the settings and make any corrections needed.

Thank you for your time. Have a great day!