Disposing Assets in WorthIT Fixed Assets

WorthIT Fixed Assets supports full and partial disposals of assets. To fully dispose an asset, go to the main asset details screen. On the right side, there is a status indicator and a button to dispose of an asset. Clicking out will bring you to the disposal screen.

Beneath the disposal form you can see a financial projection of the impacts of the disposal. This will help you determine the different financial impacts of the disposal date.

Additionally, you can set a realized amount and a Sold To text field for better record keeping. The realized amount will be applied as a gain/loss and create a financial entry. Both fields will display on reports when evaluating disposals.

Partial Disposals

An asset can have one or more partial disposals. On the Asset Details screen, select the "Partial Disposals" tab to view the list of partial disposals. If you haven't added any records for the asset in question, you will see a box inviting you to create one.

You have three options to partially dispose an asset:

• An amount based on net book value. This means you will have to know the current value of the disposal amount.
• A percentage of the asset to be disposed. If you know you are disposing 50% of the asset value, for example, we can perform the calculation for you.
• An amount based on the original acquisition cost. If you know you had 5 chairs worth a total of $1000, and you are disposing of 1 chair, you can put $200 in this field and we'll calculate the correct value.

A financial project is displayed underneath the options so you can see the impacts and net book value to be disposed as you add the details.