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How Do I Scrap A Fixed Asset?

Just go to Fixed Assets, highlight the one you want to scrap and press the button that says “Write Off” in the bottom right of the screen.

Enter the date you would like it to be taken off the register and, if required, a reason/comment about why you are doing this.

The value of the asset on this date (if there is one) will be journaled automatically to your Profit and Loss in the “depreciation” nominal or, if you have one specified “profit or loss on sale” which would be in the Deprecation group of nominals.