Asset Trade-in

[Former Member]

Hello,

I request you to please let me know how and what I need to configure to trade-in an asset in Asset Accounting module.

For example: I have an asset of APC $1000 with a NBV of $700. I wish to trade this in for a new asset worth $1100. This means I pay a value of $400 for the new asset but its real worth is $1100.

For what amount should I raise the PO? What is the amount that I should consider for Property Tax purposes? These are some of the questions I am facing.

Any help in this regard is greatly appreciated.

Thanks.

[dominic_holdstock]

Hi,

Treat it as a sale for 700 and a purchase for 1100, the offset then occurs on the Creditor account.

For the Tax Issues you will have to consult your Tax Advisor.

Kind Regards