NetAsset - Asset Trade-In
Use Case: Circumstances may require an asset to be disposed and then immediately recapitalized into another asset.
STEP BY STEP PROCESS
- Navigate to NetAsset > Update or Modify Assets > Dispose Assets or Dispose using the button at the top of each asset.
- Select the Asset that you would like to dispose
Field | Description |
| Gain/Loss Account | Override this account and select your fixed asset clearing account. |
- The asset disposal page should look something like this:
- Select dispose and it should take you back to the asset record.
- Select the disposal entry and edit it.
- Make the follow 2 edits to the disposal entry:
- Remove the asset line field on the line where the asset clearing account is selected
- Remove the NetAsset Asset (Body) tag from the custom subtab
- Remove the asset line field on the line where the asset clearing account is selected
- Save the transaction
Capitalize the new asset from the proposal clearing account (Capitalize From Asset Clearing)
