How do I write off a fixed asset? I’ve followed these instructions but I’m pretty confused.
What I’ve ended up with is a credit to Office Equipment and a debit to Sale Of Assets:
This causes the write off to show up as a Turnover debit in the P&L. Is that right? I wouldn’t expect it to be deducted from the turnover, shouldn’t it be treated as an expense?
Should I treat the write off as a disposal on the accounts using a separate “disposal” account or something like that instead?