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Asset register

Sell, scrap or write off an asset

Last updated Oct 29, 2026

How a disposal works

A disposal is a request first. Nothing is posted to the accounts when you raise it: the figures are recorded only when an approved disposal is completed.

Disposal types: Sale, Scrap, Donation, Write-off, Theft / Loss, Destroyed and Buyback. Donation, write-off, theft or loss and destroyed have no proceeds.

Raise a disposal

Web edition: open Accounting › Disposal (also under Transactions) and start a new disposal. The wizard has four steps:

  1. Type and reason: the disposal type, a reason code, the reason (kept in the audit trail) and the proposed date, which is used for the NBV estimate.
  2. Assets: add the assets. For each one choose the disposal mode, and for a partial disposal the quantity disposed or the fraction of value.
  3. Sale terms: the sale method, reserve price, GST rate and the buyer or scrap dealer (name, GSTIN, PAN, contact details).
  4. Review: check and submit for approval, or keep it as a draft.

Desktop edition: open Transactions › Disposal (or Dispose on the toolbar) and click New Disposal. The five steps are Assets, Reason & Type, Valuation (cost, accumulated depreciation and NBV at the proposed date, and the expected gain or loss), Documents, and Review & Submit.

Approve and complete

  1. The disposal follows your approval chain. The standard desktop chain is a technical review, a finance review and management.
  2. When the sale or scrap actually happens, a finance user completes it with the actual date, buyer and proceeds (Complete Sale / Scrap… on the desktop).
  3. The disposal then shows the gain or loss, the output GST, any GST shortfall under s.18(6), and the journal, checked so that debits equal credits.

A completed disposal can be reversed if it was made in error. Use Print certificate on the desktop for the disposal approval certificate.

Tips

  • A partial disposal splits the asset when it is completed.
  • On the desktop, Retire Asset (right-click in the register) takes an asset out of use while it waits for disposal; it is still depreciated and verified.
  • Several defaults, such as the s.18(6) calculation and whether the disposal day is depreciated, await confirmation by a Chartered Accountant. Agree them with your auditor.

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