Chart of Accounts Question

by Morris Yawane
(Port Moresby, Papua New Giunea)

What I want to know is where in the chart of accounts "loss on disposal" is found?

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May 30, 2011
Loss on Disposal
by: Henk

I believe you will find in your Chart of Accounts that there is an area within REVENUE for Capital Gains, Capital Losses, or Other Income.

You could do as I have, and specifically set up an account within "Other Revenue" for Capital Gains.

If it is a Loss it will simply be a negative value.

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