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Status Answered
Created by AgExpert Support
Created on Feb 14, 2019

Disqus Agexpert Accounting Questions Archive

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?

  • ADMIN RESPONSE
    Feb 10, 2025

    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.

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