Record Sale of Fixed Asset in Quickbooks

Total Time: 10 minutes

1. Step One

   You would need to first make a current liability account. This will record all your deposits from sale of assets.

2. Step Two

   When the sale is made then you would need to post the depreciation for that year.

3. Step Three

   Now make a separate income account that will record your profits and losses from the sale of assets.

4. Step Four

   Now pass your journal entry for that account.

5. Step Five

   Put all the sale on the debit side and put all the gains and losses on the credit

6. Step Six

   The depreciation amount will be depreciated.