User able to perform Fixed Asset Retirement, write-off or even disposal using "Retirement Maintenance". Path: Transaction > Fixed Assets > Retire 1. Select the Asset that need to retire. 2. The date of retire. 3. Select "Like-Kind Exchange". The double entry for this will be Accounting entries for write-off: Dr. Non-Recognized gain/loss (FA written-off) Dr. Accumulated Depreciation Cr. Asset Cost User may select "Sale" in Retirement Type and "Disposal" in Retirement Code for disposal of asset. 4. Select Retirement Code "WRITEOFF". If the code is not present, user can create it by going to Retirement Setup. Path: MSDGP > Tools > Setup > Fixed Assets > Retirement 5. There are 3 ways how the asset can be retired. Quantity, Cost, or Percentage. In...
Act as Microsoft Dynamics GP Consultant nearly 10 years now, based in Malaysia. Following an early career as statutory auditors and independent accountants to a range of growing businesses in the finance industry, later moved into the area of IT in business with the expansion of technology. Offering implementation, support and training Microsoft Dynamics GP to customers for more than 10 projects across ASEAN region. Now we are offering Dynamics 365 Business Central implementation too.