Assets that disapear/stolen/garbage


S

samurai

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
 
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A

Allan Martin

samurai said:
How do i setup assets that have gone missing, such as tools, etc.
How did you set them up before they went bye bye?
 
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J

Joanne

samurai said:
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
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.

--
Sincerely,
Joanne

If it's right for you, then it's right, . . . . . for you!!!

http://www.jobird.com
 

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