How do I mark the sale of an asset and close out?

Step 1: Enter the sale value as the current value of the asset.

Step 2: Remove the row. Make sure the sale amount is reflecting in your bank account balance on the same day you remove the asset row.

If you have entered Cash flow for this asset and would like to know the IRR, these are the steps...

Step 1: Update current value as 0. 

Step 2: Enter Sale proceeds as CASH OUT. Of course the money you put in to the asset should be there as CASH IN. You will now see the updated IRR.

Step 3: Remove the row. Make sure the sale amount is reflected in your bank account on the same day you mark the property value as 0. 

If you are removing the row few days later, make sure you have an entry in the Asset Details > Value table > for the date the money came to your bank account. Set value as zero. Essentially you are saying even though you are removing the row today, it became zero value on the day the money hit your bank account.

Summary

The asset you owned till now, is now gone from your portfolio, and the money you sold it for is now reflected in your bank account or cash balance.

Don't worry, even if a row is removed, its history will continue to reflect in your net worth. So you won't mess up your Net Worth chart.

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