M
DownloadReleasesGuidesChatbotAccountantsForumCloud Edition

Account — Fixed assets - loss on disposal

The FixedAssetsLossOnDisposal account in Manager is a built-in account that records losses incurred when disposing of fixed assets. This guide explains how to rename this account and adjust its settings.

Accessing the Account Settings

To rename the FixedAssetsLossOnDisposal account:

  1. Navigate to the Settings tab.
  2. Click on Chart of Accounts.
  3. Find the FixedAssetsLossOnDisposal account in the list.
  4. Click the Edit button next to the account.

Account Fields

When editing the account, you'll encounter the following fields:

Name

  • Description: The name of the account.
  • Default: FixedAssetsLossOnDisposal
  • Action: Enter a new name for the account if desired.

Code

  • Description: An optional code for the account.
  • Action: Enter a code if you use account codes for organization or sorting.

Group

  • Description: Specifies under which group the account will appear on the Profit and Loss Statement.
  • Action: Select the appropriate group to categorize the account correctly.

Saving Changes

After making your changes:

  • Click the Update button to save.

Important Notes

  • Non-deletable Account: The FixedAssetsLossOnDisposal account cannot be deleted.
  • Automatic Addition: This account is automatically added to your Chart of Accounts when you dispose of at least one fixed asset.

For more information on managing fixed assets, see the Fixed Assets Guide.