Does Asset.Guru support partial disposals?
Good news! Asset.Guru can support partial disposals with the Revalue function.
This gives excellent control of how much the remaining asset is worth along with the opportunity to adjust the depreciation rate of the remainder.
This treatment is available in all versions of Asset.Guru.
Example Scenario: (current date for this scenario is 5 MAY 2023)
An asset was initially activated as a trailer/mower combo and has been depreciating as a single asset record. The mower gets sold, but the trailer is still in great shape and will continue to be used by the company.
Asset Name: 1.2T single axel trailer + 183cm "Work-Goat" mower
Purchase Date and Depreciation Start Date: 12 JUN 2019
Purchase Price: 16,000
Depreciation Schedule (monthly averaging): Straight Line - Term: 10yr
Current Value (30 APR 2023): 9,733.33
Sale Price of mower: 7,000
Sale Date: 1 MAY 2023
Steps:
1.) Revalue the original asset record by decreasing its value by the amount that the mower was sold for.
Valuation amount: 9,733.33 - 7,000 = 2,733.33
More help about how to revalue an asset
2.) Create and activate an asset record to represent the mower component with the Purchase Date being the same as the Sale Date. How to add an asset
3.) Process the mower asset as sold. How to sell an asset or How to dispose of an asset
Tip: edit the original asset record's name, description and notes to add additional detail about why it was revalued and the provide a reference note to the asset id that was sold.