How do you delete capital assests that have been destroyed and are no longer in our possession so they don't show on our capital assest report anymore?
Hello Sandy & Carl,
If the capital assets were not entered as a transaction you would be able to go to Setup > Chart of Accounts > Capital Assets > Delete the capital assets no longer in possession. If they were entered as a transaction go to Transactions > Transaction Entry. It will be a $0 transaction/ The first line type will be a C-, capital asset sale and add a second line to In, Income to gains/loss on sale of capital asset. Be sure to speak with your accountant as they may want you to enter it differently.