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Cashflow STATEMENT discrepancy - with Disposal of Asset
Cashflow STATEMENT discrepancy - with Disposal of Asset

Correcting a Discrepancy on the Cashflow Statement after an Asset Disposal in the report period.

Sandra McCarthy avatar
Written by Sandra McCarthy
Updated over a month ago

Normally both sides of the depreciation transaction are categorised as non-cash and balance each other out, however when disposing of an asset this is not the case, as the accumulated depreciation is an offset to the original Asset purchase value.

To ensure there is no discrepancy in the Cashflow Statement, the settings need to be adjusted as it is important that all of the associated accounts are placed within the same Section, either Operating or Investing. Additionally, if all of your Depreciation Expenses are posted to one account, all of the Accumulated Depreciation Accounts will also need to be moved to correctly reconcile the two sides of all transactions to zero.

To remove the depreciation accounts from the Cashflow Statement, set up a specific Account Tree.

  • Set up an Account Tree without any Calculation rows, as they are not required

  • Within Other Income add a Header Sale of Asset

  • Set the Header to report as Summary Only

  • Allocate all of the accounts associated with the transaction to the Header:

    • Equipment; Accum. Depreciation; Depreciation Expense; Gain/Loss on Disposal

    • Additional Accumulated Depreciation accounts to balance Depreciation Expense

Run the Cashflow Statement using the Account Tree to check that the the Sale of Asset reports the net cash amount received for the asset (rather than Gain/Loss on Disposal amount), and to ensure there is no discrepancy amount on the report.

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