How do i setup assets that have gone missing, such as tools, etc. Also, my laptop of only one year has completely died, not wirth fixing, so i would like to write it off, and buy a new one.
Can someone step me through on setting up a laptop in assets, then dispose of it in QB, and then aquire a new one??
I'm using QB2004
THanks, samurai
How did you set them up before they went bye bye?
Assuming you recorded the initial purchase to "Fixed Assets" and have been recording any depreciation to a contra account in "Fixed Assets/Accumulated Depreciation":
Credit Fixed Assets for the purchase price Debit Fixed Assets/Accumulated Depreciation for the depreciation recorded there to date Debit Miscellaneous Expense/Loss on Sale of Assets for the difference
Thoroughly document what you are doing by referring to the original asset by date and description and the reason or method of disposition in the entry so your tax preparer will understand the purpose for your entry.
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