Sale of fixed assets

1 The most convenient and correct way to record fixed asset sales in SimplBooks is through a sales invoice. When entering the sales invoice, select the fixed asset in the additional information field (accessible via the magnifying glass icon), linking the sales invoice and the fixed asset card.

Important When selling fixed assets, do not use articles, as this prevents the system from creating the correct transactions for fixed asset sales and write-offs.

2 Enter the name of the fixed asset being sold in the “Contents” field, specify the sales price and in the detailed description field, start typing the name of the fixed asset in the “Asset” field and click on the name to select it. The income account associated with the fixed asset sale cannot be changed on the invoice, so it is inactive here.

For fixed asset sales, use the VAT type “22% sale of goods, Estonia.”

  1. Content – fixed asset name
  2. Asset – enter the name from the system’s fixed asset card here
3 When saving the invoice, an entry is created with the account that ensures the fixed asset sale appears in the VAT report at the sale price (based on the sales invoice). Additionally, the profit or loss from the fixed asset sale is reflected in the profit or loss statement (linked to the fixed asset card).

4 The system creates write-off and profit/loss entries on the fixed asset card.

Warning If entries are not generated or accounts are incorrect, check Settings -> Automatic transactions-> Assets to ensure all accounts are correctly assigned.

If you have any additional questions, write to us at support@simplbooks.ee

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