- Knowledge Base Categories:
- Fixed Asset Inventory
FAQ: When disposing assets, do I need to make debit and credit entries?
When disposing assets, do I need to make debit and credit entries?
Debit and credit entries for disposing assets are only applicable for fixed (or capital) assets. If disposing an asset that is just being tracked for insurance purposes and it is not a fixed (or capital) asset, leave the Debits and Credits Lists on the Process Asset Disposal screen blank. If disposing a fixed (or capital) asset, make the necessary debit and credit entries to record the disposal. For more information on completing the necessary disposal entries, refer to the Processing Asset Disposal topic in the Help File.