I would like to dispose of a non-unitised Asset with $0 consideration, so essentially writing off the Asset. I need to make an unrealised loss become a realised loss.
This needs to be entered as a journal entry.
|From the Main Toolbar, go to Accounting.||
|Select Transaction list||
You will need to enter the following:
Credit - The remaining amount for the Asset/Investment you are trying to dispose of. Use the Trial Balance to determine this amount
Debit - The same amount to the 24700 Changes in Market Values of Investments account.
Please see the following example
To record any Capital Losses (or Capital Gain), refer to the following account for more information: