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Reach is the only Accounting Software which is customised to suit 18 different business end to end.

Chapter 11 | Asset Purchases

Recording Asset Sale

When an Asset is sold, the receipt needs to be recorded in the software and any profits arising thereof recorded. Let me now show you how this transaction is recorded in the accounting software.

Let me now show you how this is done:

  1. Click Settings, under Settings tab.

  2. Click Account Ledger, under accounting tab.

  3. Now click add a account button.

  4. Then Select Group (Other expenses)

  5. Add ledger name (loss on fixed asset).

  6. Add Opening Balance( 0).

  7. Now click create.

  8. Go to Journal under accountant tab

  9. Click add journal Button

  10. Add a Description for your reference.

  11. Select the Date.

  12. Fill the Reference Number and click Here is the Proof.

  13. Now select bank or Cash and add amount under debit column.

  14. Select fixed asset (Computer) and add sale amount under credit column.

  15. Now select loss on fixed asset ledger and add loss amount under credit column.

  16. Then save.