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Helpfixed assetsDispose of a Fixed Asset

Dispose of a Fixed Asset

Sell, scrap, or write off an asset.

beginner· 5 views· Updated 10/13/2026

Disposing of a fixed asset involves calculating the balancing allowance or charge and recording the impact on your Profit & Loss statement. AkountFly ensures a complete audit trail is maintained throughout the process.

Dispose of a Fixed Asset: overview
Overview

Step-by-step

  1. 1
    Access Fixed Assets

    Go to More Tools in the sidebar, then select Equipment & Property (Fixed Assets).

    Dispose of a Fixed Asset - Access Fixed Assets
    Access Fixed Assets
  2. 2
    Select Asset

    Find and select the asset you wish to dispose of from the list.

    Dispose of a Fixed Asset - Select Asset
    Select Asset
  3. 3
    Initiate Disposal

    Choose the disposal method: sell, scrap, or write off. Confirm the details to proceed.

    Dispose of a Fixed Asset - Initiate Disposal
    Initiate Disposal
  4. 4
    Review and Approve

    Review the calculated balancing allowance or charge. Approve the disposal to finalise the process.

    Ensure all details are correct before approval to maintain an accurate audit trail.
    Dispose of a Fixed Asset - Review and Approve
    Review and Approve
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