Asset Management related queries, topics and discussions
User avatar
By Bahman
#384 Hi,
I want to sale a Laptop which is in our assets lists. But I don't know how to do the process of sale an Asset item.
If possible please explain it on some separated steps.
Thanks much


User avatar
By admin
#386 Hi Bahman,

Hope the below helps.

In my example was just setting up 3 new accounts in CoA (Chart of Accounts):

183085 - Accrued Asset Disposal
8310 - Profit on Asset Disposal
8320 - Losses on Asset Disposal

As the next step check / set up the Accounting Code for selling vehicles.

Search Path:
Asset Management -> Asset Setup -> Code Files -> 14. Accounting Code:
30 - Sales of Assets

Then check / setup the AAS (Automatic Accounting Schedule) for the SAL transaction code associated
with the Accountig Code 30.

Search Path:
Asset Management -> Asset Setup -> Automatic Accounting Schedule

Note that for the purpose of this example, please ignore the TAX related lines of the transactions.

When selling an asset, yu are not dealing with a new asset, but merely changing an existing one.

Search Path:
Asset Management -> Business Operations -> Change Value Component

In the Select Transaction Code window, choose SAL -Sell Asset

The following message:

Code: Select all"ALL DEPRECIATIONS FOR THE RELEVANT ASSET COMPONENT MUST BE CALCULATED PRIOR TO THIS OPERATION."
"ONCE THE OPERATION IS COMPLETED, YOU ARE NOT ABLE TO RECALCULATE DEPRECIATION. CONTINUE?"


remindes and warns you that all depreciations should be calculated up to the date of disposal.
If you have not depreciated the asset in question yet, click No and go to the Calculate Depreciation function
to complete the depreciation first. Otherwise, click Yes to proceed.

Next, you choose the Master Asset Code and then choose the required Transaction Number from the list.

Choose the book entry date in the main window and then choose 2-Supplier in the Menu window
to enter the date of the Sale in the Scrap/Sold field.

Note: You may wish to adjust the date in the Depr.To field, but it is only for your reference.

Next, choose 5-Accounting 2 in the Menu window and check / setup the code 30 in the Accounting Code SAL field.
Then choose 5-Depreciation <PLAN> in the Menu window and enter the amount of the Sale in the Sales Revenue field.

Note: Please notice the amounts in the Purchase Cost field and Depreciation during year field - these amounts
will be used by iScala to calculate the financial result of the sale operation.

Leave all other data as they are.

Finally click Yes in the Confirmation window to generate the sales transaction.
Note: Clicking No would have the effect of canceling the entry.

Now you can check / validate the whole accounting entry related to the sale of the asset - it is properly
booked in the General Ledger Daybook Journal.

Best Regards,
ScalaTalk.com