QB Issue Resolution:
Here is all you should see. Start with the Disposal of the Fixed Asset:
Basis is Credited for $1,400 to Remove that from being asset value on hand; the offset is Disposal of the asset as other Income Gain/Loss on disposal of asset. Typically, there is also Depreciation to be part of this to Recapture it and the difference is the “remaining useful value we forfeited.” If you never have depreciation, then you Removed $1,400 in full = total Lost Value.
In exchange, you Sold it and the sales receipt has $2,000.
And the accounting for this, reported on the P&L:
Gross Revenue $2,000
Lost from removing it from your service $1,400
= Net of $600 Gained.
You seem to have the $2,000 in Twice: once as the Sales Receipt and once as the Journal Entry.
Resolution for Issue 'Recording the sale of a fixed asset (non-profit)' available: Yes (Solved).
Source: Intuit Community forum.
Recording the sale of a fixed asset (non-profit): this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for fixed asset
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