Dispose of assets in your register

By Gregg Hopfeldt · 2025-05-20

Record an Asset Disposal when an asset is sold, scrapped, or otherwise removed from use. The disposal updates the Fixed Asset Register but keeps the asset visible for historical tracking.

Before you start, confirm the asset is correct, the disposal date matches the financial year, and your depreciation settings are up to date. If you need to change rates first, see Set depreciation rates and methods.

Start the disposal

1. Open the Fixed Asset Register.

2. Select Asset Disposal from the toolbar.

3. Choose the asset and enter the disposal details.

4. Review the calculations, then select Confirm Disposal.

Simple Fixed Assets records the disposal date, sale price, accumulated depreciation at disposal, book value at disposal, and profit or loss. After you save, run Recalculate so the register reflects the updated totals.

Check the register after saving

• Confirm the asset shows Disposed.

• Review the disposal date and profit or loss columns.

• Export your audit trail before removing or archiving related records. For broader reporting, see Generate an audit report.

Common issues

• Disposed the wrong asset: reopen the disposal details and correct the selection before final reporting.

• Forgot to recalculate: totals and depreciation will stay out of date until you run Recalculate.

• Wrong disposal date: align the date with the correct financial year before closing the period.

• Removed the asset too early: export the audit trail first so you keep a record for review.

If you are closing the year, finish with Rollover to New Year. You can also use Filters and groups to review disposed assets alongside active ones.