To dispose of a single asset, navigate to the Assets section and select the asset.

For this example, we will select to dispose the Stand-up Desk.

Open up the 'Disposal' section and fill out the disposal value, date and select whether there was any depreciation in the disposal year.

Click Save Asset.

To dispose a selection of assets, navigate to the Assets section and then select an Asset Group. Once a group has been selected, multi-select the assets to be disposed by selecting the tick boxes.

Once selected, click on Bulk Actions and then Dispose.

This will then open up a new pane allowing for selection of the following:

Once a disposal date is selected, the user can type the cost value into a cell in the Disposal Value column to assign the cost amount as the disposal value. This will automatically feed through to the Accounting disposal value.

Once a disposal date is selected, the CWDV is populated for the asset at that date. The user can double click on a cell in the Disposal Value column.

Alternatively, select the Auto Assign Disposal Values button, ensuring the checkbox is selected for 'Set Disposal Value to CWDV at Disposal Date'. This will automatically feed through to the Accounting disposal value.

Once a disposal date is selected, the user can type a nil value into a cell in the Disposal Value column to assign a $0 cost amount as the disposal value. This will automatically feed through to the Accounting disposal value.

Once a disposal date is selected, select the Auto Assign Disposal Values and untick the 'Set Disposal Value to CWDV at Disposal Date'. Once unticked, users can assign different disposal values for taxation and accounting disposal.

If the values differ, the values can be unlinked using the link icon and enter two separate values for disposal.

Once the disposal values have been assigned, select Dispose Assets.

If you have only disposed of part of an asset you will have to first split the asset and then dispose of the asset that was split off. Navigate to the Assets section and select the asset.

For this example, the client has sold the bucket of a digger that has been recorded as one asset in the register. We will therefore need to split the digger in two and dispose of the bucket.

Select to split the asset by clicking Split Asset.

The below pop-up screen will appear.

Fill out the relevant details including the year of the split, the basis of the split (i.e. percent, cost, opening carrying amount or quantity), and the applicable split assets.

Click Split Asset.

From here, the asset will appear split as below.

Select the asset to be disposed of.

Follow the steps to dispose of the asset per the steps in the 'Single asset disposal' section above.

In order for this journal to be posted, the asset group must be linked to a dataset and accounts must be selected for the cost, accumulated depreciation, depreciation and a gain/loss account.

See knowledge articles: Assets - overview and Assets - creating a register for more information on how to do this.

Once assets are disposed and you are happy with the asset register for the financial year, click Post Automated Journals.

This will automatically post a depreciation journal in the platform, including any disposals. Users can navigate to the relevant dataset and go to the Journals tab to view this journal.

See the knowledge article: Assets - posting depreciation journals for more information.