This section will look at processing the disposal of the collectible asset.
Navigate to Fund Level> Transactions > Investment - Sell > Collectible Item Sale
- Select Investment Account, this is the collectible item being sold.
- Enter Contract Date, the date the agreement to sell the collectible asset took place.
- Enter Settlement Date, the date on which the transfer of collectible is completed.
- Enter Consideration amount, being the total disposal amount for the asset.
- Enter GST in Consideration, which is the total GST applicable to the sale price. (Only applicable if Fund is registered for GST).
- Enter Total Brokerage, non-mandatory field.
- Enter Brokerage GST, which is the GST applicable to the brokerage. (Only if Fund is registered for GST).
- Total Cost is automatically populated based on the amounts entered.
- Enter Description, or use the default "Collectible Item Sale"
Learn how to revalue your collectible investment.