Hi @MartynB, The situation that you describe of a mobile phone “office equipment” that requires “derecognition of the asset” is something that I arrange by doing a journal entry “Year End Assets Schedule” prior to running the QF auto-close journal “Year End Closing Journal”.
However for smaller items such as mobile phones no derecognition is done. I do derecognition for motor vehicles which involves returning the asset back to zero in the two nominal ledgers used for recording the purchase “(0050) Motor Vehicles” and then the subsequent depreciation “(0051) Motor Vehicles Depreciation” with a third journal line to balance those two ledger entries to the money received for the sale “(4200) Sales of Assets”. Not an easy process to comprehend and took me some time to initally get the process under way, but if you have a sales invoice that was a “Sale of Assets” such item would require derecognising, still an area of work that is more problematic and look forward to when QF have implemented the proposed Fixed assets schedule