QB Issue Resolution:
Ghana may have its own requirements so you should check with a local accountant, but basically
create an income account called gain/loss on asset sales
if you have been posting depreciation, then calculate and post partial year depreciation, then journal entries
debit gain loss, credit fixed asset for the balance in the fixed asset account
debit accumulated depreciation for that asset, credit gain loss for the amount in the depreciation account
deposit the funds received and use the gain loss account as the source account for the deposit
Resolution for Issue 'what are the processes for recording sale of fixed assests' available: Yes (Solved).
Source: Intuit Community forum.
what are the processes for recording sale of fixed assests: 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 asset account
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Error Recovery for asset account [Canada]
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