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Post Info TOPIC: Disposal of assets
Rhianrach


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Disposal of assets
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Hi

We have sold a company vehicle. Am I as a bookkeeper responsible for creating a disposal account to post the receipt to or is it the accountants job? If it's the accountants where can I post the receipt in the mean time?

I know how to do disposals but feel this is an accountants job and I would be overstepping the mark somewhat. I would be interested in peoples views on this.



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Steve
GJRobbins


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hi steve

depends on whether or not you maintain the fixed asset register and know the amount of accumulated depreciation relating to this asset

if so then i would go ahead and post the disposal journals and the bank receipt to profit / loss on disposals.

if not then just post the receipt to profit / loss on disposals with detail to what asset it relates to and let the accountant complete the journal.

hope that helps

 

Jeremy

Optegra Financial

 



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Rhianrach


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Yeah that helps thanks, I don't have anything to do with fixed assets and their depreciation, and they are posted it seems as a lump sum :) so I shall do as you say and make a note of the sale on my ever increasing list of things the accountant needs to know.

Cheers.

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Steve
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