Fixed Asset Disposals

When a fixed asset is sold, retired, or written off, it must be formally disposed of in Rillet. Disposing of an asset ensures it is removed from the balance sheet, accumulated depreciation is cleared, and any gain or loss is recorded correctly.

Record the Disposal of a Fixed Asset

You can process an asset disposal directly from the Fixed Assets list in Rillet. This ensures proper accounting treatment and automatic posting of gain or loss.

1. Go to Close Management > Fixed Assets.

   
2. Locate the asset you want to dispose of from the list and click the three dots (…) next to the asset.

3. Select Dispose.

   
4. Review the asset details in the pop-up window to confirm accuracy and enter the disposal information:

   • Sale Date: Date of the sale or write-off.

   • Sale Value: Amount received, if any.

   • Tax: Enter the tax percentage or amount if applicable.

5. Once all details are entered, click Dispose to confirm.

   

Understand What Happens After Disposal

Once the asset is disposed of, Rillet handles the accounting and reporting adjustments automatically:

• Rillet automatically calculates if the disposal results in a net gain or loss.

• The resulting amount is posted to the appropriate GL account defined in your disposal settings.

• The transaction is reflected in the GL detail for full audit traceability.

Note: Disposals are irreversible. Ensure all information is correct before confirming.

See Also

For more fixed asset management workflows, see the following articles:

• Setting up Fixed Assets in Rillet

• Creating a New Fixed Asset

• Fixed Asset Bill Credits