If I am disposing of used capital equipment how to invoice? Can't just use"Sales"?

Hi jimrillie,

Knowing how to handle these kinds of transactions can be tricky, and it's important to me that you get the proper guidance for how to account for the disposal of the capital equipment. That way, you can be confident your books are in balance and that the transaction is taken care of. I'll point you in the right direction for learning how to do this in QuickBooks Online.

QuickBooks Online has a number of great features for recording transactions like sales, expenses, and so forth. When it comes to the management of capital equipment, however, there isn't a built in feature or QuickBooks resource to guide you through this process. Don't worry, I can still point you to someone who can help.

In this case, that's an accountant. An accountant that knows QuickBooks in particular would be a great asset because then you'd have someone that has the accounting training and the QuickBooks knowledge to complete the task. It could be a simple as needing to create some sort of journal entry to handle disposing of the used capital equipment, but an accountant will know best if that's the right course of action and what accounts to use if it is.

The My Accountant tab in QuickBooks Online is designed just for these kinds of moments. There, you can invite someone you're already working with as a user to your books, which gives them the access and tools to help you right in the program. If you don't have an accountant, click the Find a pro to help button to see our directory of QuickBooks-savvy accountants near you.

QuickBooks is great for helping with the accounting side of running a business, but it never hurts to work with an accountant as well. Don't hesitate to browser through the directory if you need a hand.

Take care, and have a great weekend.