I purchased a leasehold property some years ago with money from a bank account outside of my business bank account, and recorded it that way successfully - It is now showing correctly as a Fixed Asset (Code 0011)
Now I have sold the property and the proceeds have gone back to my personal bank account not my business bank account.
How do I record this sale and show the asset as sold without affecting the business bank account please?
I believe (though I’m not an accountant so you may want a second opinion) that you would book the total sale price as a normal sale - under the sale of assets code - with payment into your proprietor drawings account, and then enter a journal to reverse the original asset (and accumulated depreciation if there is any) from your balance sheet. The balancing entry in this journal would also post to sale of assets, so the net result on the SoA code is the difference between what you originally paid when you bought it and what you received when you sold it - positive (credit) if you made a gain and negative (debit) if you made a loss.