When the property is no longer worth using or is damaged, the business must make to liquidation or inventory to update the data correctly. Report liquidate business assetsreport inventory of the property are two important documents to help businesses monitor assets and avoid losses. So, two types of this report, including the content, what is like, how? Let's AccNet find out the details in the article below.
1. Report liquidate business assets
Liquidation report property is the text that recorded the process of removing fixed assets or other property in the business of damaged, obsolete or no longer worth using. This report helps businesses keep track of assets is reduced, comply with regulations, accounting, tax, and legal grounds as needed.
Content of reports liquidation of assets
Liquidation report property business typically includes the following contents:
- Business information: company Name, related parts, date of the report.
- List assets liquidation: property Name, code number, value remaining.
- Reasons liquidation: damaged, no longer needs to use, replaced by other assets.
- Method of disposal: Sale, disposal, destruction, internal transfer.
- Supporting documentation: the Decision on liquidation, inspection of property, the contract for sale of the property (if any).
- Results liquidation: Of the proceeds (if any), accounting.
Report template liquidation of assets
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2. Report property inventory business
Report inventory of assets is the text recognition results in the inventory of real property than with bookkeeping, help businesses detect variances, losses and adjust timely.
Content of report inventory of assets
- Business information: company Name, date inventory of parts made.
- Property listing inventory: the property Name, code number, according to the books and the actual number.
- Inventory results: the Difference (excess/deficiency), causes of discrepancies.
- Proposed treatment: adjust the books, additional assets, handle responsibilities related.
Report template property inventory business
3. When should I use to report asset disposal and report inventory of assets?
Liquidation report business property is used when:
- Business decided to remove the property no longer used or no longer fit.
- The property is damaged, cannot repair, need to destroy, or liquidated.
- Agency audit, tax requirements recorded the process of reducing assets.
- Business restructuring, downsizing the scale or change the new equipment.
Report inventory of assets is used when business wants:
- Check the quantity and condition of the real property than bookkeeping.
- Detect the difference (excess, shortage, damage) to adjust timely.
- Property assessment periodically (by year, quarter) or when there are special requirements from the leader or agency audit.
- Prepare data before the decision to liquidate assets.
The relationship between these two statements: Report inventory of the property is usually set to determine the condition of the property. If the detected property damaged or no longer use value, the business will conduct reporting liquidation of business assets to remove them in a logical way.
Report inventory of the property to help businesses accurately assess the quantity and condition of the real property, while report liquidate business assets recorded the process of removing property is no longer worth using. The two types of reports, this regulation will support the business to limit errors in accounting.
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