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andersonj29
February 6, 2022
Question

selling an asset to a director

  • February 6, 2022
  • 1 reply
  • 0 views

I have a fixed asset (art) and the business has closed. I would like to "sell" that piece of art to a director for money owed to them. How do I enter this transaction?

1 reply

N
Nick K
February 7, 2022

Hi andersonj29.

 

Making sure you enter all your transactions properly is the cornerstone of good bookkeeping. I'd be happy to help point you in the right direction to get this added.

 

To make sure that the piece of art is removed from the right account and converted into funds I recommend reaching out to your accountant as they are trained in how to make this time of entry. If you don't have an accountant no worries, we can help. You can find one in your area by going to My Accountant>Find a pro to help.

 

If you have any questions let us know and we'd be happy to help.

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