How do I record the sale of a Fixed asset with a lost in value for quick books online

Hello there, Aluzardo,

In QuickBooks Online, after you set up your assets, you can record their depreciation. We don't automatically depreciate fixed assets. You need to manually track them using journal entries.

If you haven’t already, create an account to track depreciation.

1. Go to Settings and select Chart of Accounts.
2. Select New.
3. From the Account Type dropdown, select Other Expense.
4. From the Detail Type dropdown, select Depreciation.
5. Give the account a name, like "[Asset] depreciation]"
6. Select Save and Close.

Now you have accounts to track your assets and their depreciation.

1. Select + New. Then select Journal entry.
2. On the first line, select the asset account you use to track the loan from the Account dropdown. Enter the depreciated amount in the Credits column.
3. On the second line, select the Depreciation account you just created from the Account dropdown. Enter the same depreciated amount in the Debits column.
4. Select Save.

It's best to consult your accountant with this process.

Let me know if you have other questions.