I have been a Quickbooks user for quite a while. Previously, when a fixed assets is put out of service (sold, donated, thrown out, etc.), I would create a General Ledger entry. Because my state requires me to report and pay taxes on Business Tangible Property, I would run a category report and get purchase and sales dates of all fixed assets. This report must be filed with the state.
Last year I upgraded to Quickbooks Pro 2004 which has a Fixed Asset Management feature that allows me to create fixed assets and mark them as sold. My problem is I can't find any report that shows not only the purchase date but also the sale date of fixed assets. If I mark an asset as sold, it still shows up on the Fixed Asset report. If I go back to the old way and create a General Ledger entry, Quickbooks pops up to tell me I don't have to do this because they now manage fixed assets.
Am I missing something? How can I get a compete report? Thanks.
...JS