Set default accounts for the disposal of fixed assets
If you have the Advisor user role, set up the default accounts to use when you dispose of or sell a fixed asset in your register.
When you dispose of a fixed asset, you are likely to end up with either a gain or loss on the asset. Choose which accounts Xero allocates these gains or losses to.
- Go to Settings, then click General Settings.
- Scroll down to the Features heading, and click Fixed Assets.
- Click the Accounts tab.
- Select default accounts:
- Capital Gain on Disposal and Gain on Disposal - select a revenue account.
- Loss on Disposal - select an expense account.
- Click Save.