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Write offs of fixed assets are registered by creating the following documents: Asset Management > Fixed Asset Documents > Fixed Asset Write Offs.

The Fixed Asset Write Off document assigns the Disposed status to the listed fixed assets.

If the asset is written off before it is fully depreciated down to the Salvage value, the current last month depreciation expense is recorded as a standard month depreciation amount. The final net book value is calculated as the Net Book Value - Salvage Value. If the Accumulated Depreciation is greater than the Gross Cost, the difference is recorded as a gain. For more information, refer to Fixed Asset Write Offsgross cost minus the accumulated depreciation and is written off as expense. If write off is recorded in the last month of useful life of this asset, the current depreciation amount is calculated as the difference between the depreciable cost and accumulated depreciation and thus includes the "overlooked" depreciation amounts that were not calculated in due months. The net book value reaches the salvage value and is written off as expense.

Once posted, the Fixed Asset Write Off document assigns the Disposed status to the listed fixed assets.

Viewing the documents related to a fixed asset

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