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yennyord
Oct 16, 2018 12:16 AM UTC
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Need a Gain/Loss on Sale of Asset' account but it is nowhere in the COA.

I need to record gain on sale of a property.  i don't see gain/loss on sale of asset as a choice under Income or Other Income categories in the COA.  What can I do?  I have QB Online.  Thanks
    vpcontroller
    vpcontrollerAnswer
    Oct 16, 2018 12:16 AM UTC

    Select Chart of Accounts for Gain/Loss on Sales of Asset as Other Miscellaneous Income

    • Category Type: Other Income
    • Detail Type: Other Miscellaneous Income
    • Name: Gain/Loss on Sale of Asset
    • Description: Gain/Loss on Sale of Asset
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    vpcontroller
    vpcontrollerAnswer
    Oct 16, 2018 12:16 AM UTC

    Select Chart of Accounts for Gain/Loss on Sales of Asset as Other Miscellaneous Income

    • Category Type: Other Income
    • Detail Type: Other Miscellaneous Income
    • Name: Gain/Loss on Sale of Asset
    • Description: Gain/Loss on Sale of Asset
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