How do I record fully-owned fixed asset equipment that has been sold for cash?

If it’s fully-owned that means you should not have liability balance in your QuickBooks. But what about the asset value and accumulated depreciation? You will need to remove the asset and accumulated depreciation from the books and also figure out the Gain or Loss on Sale of an Asset. See the screenshot below on how… Continue reading How do I record fully-owned fixed asset equipment that has been sold for cash?