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Cindy76's avatar
Cindy76
Member
10 months ago

Asset sale

Hi there

im wondering if someone can please help.

if I’m selling an asset for lower than I purchased for - what account code do I create that will offset the loss ?

Thankyou 

1 Reply

  • Earl_HD's avatar
    Earl_HD
    MYOB Moderator
    10 months ago

    Hi Cindy76,

    That’s a great question. Selling an asset at a loss can have some tricky accounting implications, and determining the correct account code really depends on the specifics of your situation. For an accurate solution, it’s best to check in with an accountant—they’ll be able to guide you through it perfectly!

    Regards,
    Earl

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