There is a separate two accounts for Profit on sale of Fixed assets & Loss on sale of fixed assets . so how can i do the setup for this.
Please help me…Thanks in advance.
You need to define Profit or Loss account if you are disposing asset at a different value other than Net book value. Ideally same account is passed for both profit and loss but it depends.
If you don’t specify the value on FA journal and dispose asset, profit or loss wouldn’t be posted. Try this.
Pranav…