https://help.tallysolutions.com/docs/te9rel66/sales/sales-fixed-assets-tally.htm

Sale of Fixed Assets | Non-Trading

If you are selling off your fixed assets (for example, furniture) which you do not trade in, you can record such sales in Tally.ERP 9. You can also adjust the profit or loss arising out of such sale using a journal voucher.

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Record Sale of Fixed Assets

Adjust Profit or Loss on Sale of Fixed Assets | Record Journal Vouchers

Record Sale of Fixed Assets

When you are selling the fixed assets, you can record a sales transaction in Tally.ERP 9. See more...

1. Open the sales voucher screen.

a. Gateway of Tally > Accounting Vouchers > F8 (Sales).

b. Press Alt + I to select the Accounting Invoice mode.

2. Specify the buyer details.

a. Party A/c Name : Select Cash or Bank for cash sales. For credit sales, select the party name.

b. Party Details : Provide the Buyer details.

If you do not see the Party Details screen, press F12 (Configure), and set Enable supplementary details to Yes .

As always, you can press Ctrl + A to save and proceed.

3. Provide the fixed asset details.

Select the fixed assets ledger grouped under Sales Accounts .

Enter the amount.

4. Provide Narration , if needed, and accept the screen. As always, you can press Ctrl+A to save.

What you see on the screen can vary based on your choices. Press F12 (Configure) to change the options and F11 (Features) to enable or disable features.

Click here to see the possible F12 configurations for Sales Voucher.

To print the invoice, press Alt+P (Print) and press Enter .

This sale value will appear in the trading account and Sales Register .

You can record the same transaction in Journal Voucher, as per your business needs. However, as it is a journal voucher, you cannot generate a sales invoice for this transaction.

Adjust Profit or Loss on Sale of Fixed Assets | Record Journal Vouchers

After recording the sale of fixed assets, you can transfer the amount from sales ledger to fixed assets ledger and account for the profit or loss.

In this section

Account for profit on sale of fixed assets

Account for loss on sale of fixed assets

Account for profit on sale of fixed assets

You can account for the profit made on sale of fixed assets using income ledger. See more...

1. Gateway of Tally > Accounting Vouchers > F7 (Journal).

2. Record the transaction.

a. Debit the sales ledger and enter the sale value.

b. Credit the fixed assets ledger and enter the asset value.

c. Credit the indirect incomes ledger. The amount (profit) appears automatically.

3. Accept the screen. As always, you can press Ctrl+A to save.

The values of such transactions will appear in the relevant reports.

Account for loss on sale of fixed assets

You can account for the amount of loss incurred on sale of fixed assets using expense ledger. See more...

1. Gateway of Tally > Accounting Vouchers > F7 (Journal).

2. Record the transaction.

a. Debit the sales ledger and enter the sale value.

b. Debit the indirect expense ledger, and enter the amount (loss).

c. Credit the fixed assets ledger. The asset value appears automatically.

3. Accept the screen. As always, you can press Ctrl+A to save.

The values of such transactions will appear in the relevant reports.