Recording an asset write off and asset sale
We are a not for profit community garden. Recently our garden vehicle was written off in an accident. We received a payment from the insurance company after paying the excess. We used the insur...
Forum Discussion
Hi Whistlestop,
Thanks for reaching out and welcome to the Community Forum.
Generally, any received assets would be recorded as a journal entry to the file. But we would recommend asking a financial advisor regarding this one as this would be considered financial advice and we aren't allowed to provide that.
In the meantime let us know if we could provide assistance in any way.
Cheers,
Genreve
