Hello,
I need advice on how to handle a situation related to fixed assets in Odoo 18.
Below is the scenario:
-
Asset Purchase:
- We bought a vehicle using the Accounting module so that it does not impact our inventory.
- We created a bill for the vehicle from the Accounting > Vendors > Bills.
- We selected the vehicle fixed asset account for the purchase.
- Upon confirming the bill, a fixed asset was automatically created.
-
Asset Details:
- Acquisition Date: 01/01/2024
- Original Price: USD 100,000
- Book Value: USD 100,000
- Prorata Date: 01/02/2024
- Depreciation Method: Straight Line
- Duration: 5 years
- Depreciation for 2024: USD 18,333.33
-
Sale of the Asset:
- We plan to sell the vehicle on 14/03/2025 for USD 45,000.
- The vehicle will be sold at a loss.
Question:
We are unsure how to record the accounting entry for the loss on the sale of this asset. Specifically, We need some help:
- How to properly account for the sale price (USD 45,000).
- How to handle the depreciation that has been recorded until the sale date.
- How to record the loss (if any) on the sale in Odoo.
Does anyone has a step by step explanation with the necessary journal entries or any specific configurations we should be aware of.
Thank you in advance.