When a business asset such as a car, laptop, or machine is stolen or broken beyond repair, you need to mark it as lost in Accountable, stop depreciating it, and record any insurance payout as non-invoice revenue. This article covers each step in detail, with examples.
Please note that this article provides general guidance only. Tax rules may vary depending on your individual situation. When in doubt, ask your Tax Coach.
1. What should you do when an asset is stolen or irreparably damaged?
The first step is to mark the asset as lost or broken in Accountable. Follow these steps:
Click on Amortization:
Click on the asset and mark it as "lost or broken":
Select the date the asset was lost or broken:
What documents should you keep?
You cannot link documents directly to the asset entry, but you must store them in your document archive:
The official police report (in case of theft)
Photos or repair declarations
Any additional supporting evidence
These documents are crucial, especially if the tax authorities request clarification during an audit. They prove that the asset is no longer available for business use.
Example
Your company car is stolen on 12 November 2025.
Mark the car as "lost" with this date and store the police report in your documentation.
2. Can you continue depreciating the asset?
No. Depreciation stops on the date the asset is stolen or becomes unusable.
A business asset must be available for economic use in order to depreciate it. Once it is lost, this condition is no longer met.
Example
Your company car is being depreciated over 5 years.
The theft occurs on 12 November 2025.
Depreciation up to 12/11/2025: allowed
Depreciation after that date: not allowed
This rule applies regardless of how long the insurance company takes to handle the claim.
3. Does it matter whether the insurance pays out in 2025 or 2026?
Yes, it matters. The payout date determines the financial year in which the income must be recorded.
Insurance pays in 2025 → income in 2025
Insurance pays in 2026 → income in 2026
This affects your profit for the relevant year.
Example
The insured residual value of the stolen vehicle is €28,000.
Payment on 29 December 2025 → recorded in 2025
Payment on 15 January 2026 → recorded in 2026
The theft date does not determine the year of recognition; the payment date does.
4. How do you record the insurance payment?
An insurance payout for a stolen or lost asset is not sales revenue. It is a non-invoice revenue item.
In Accountable, you add:
➡️ Non-invoice revenue
➡️ Category: Insurance payouts → Insurance payout for lost asset
The insurance document confirming the reimbursed amount (e.g. €28,000) serves as your proof.
Example
You receive the insurance payment of €28,000 on 15 January 2026.
Upload the insurance statement
Create a non-invoice revenue entry
Select: Insurance > Insurance payout for lost investment
Enter €28,000
The payout is then properly reflected in your accounts.
⚠️ Mixed-use assets: adjust the amount before recording it
If the asset was used for both professional and private purposes (i.e. not 100% professional use), you cannot enter the full amount received from the insurance company as-is. You need to adjust it manually before recording it as revenue:
Apply your professional-use percentage to the amount received from the insurer.
If applicable, also apply the fiscal deductibility percentage on top. (This is the case for example for a car with a combustion engine, where deductibility depends on CO2 emissions.)
ℹ️ Amount to record =
amount received from insurer × professional-use % × fiscal deductibility %
5. Full example from start to finish
Here is a complete scenario that brings all steps together.
You purchase a business vehicle in 2023 for €40,000.
In 2025, the vehicle is stolen.
The insurer reimburses €28,000.
Step-by-step accounting treatment
1. Mark the asset as lost
Loss date: 12/11/2025
Store the police report in your documents
2. Stop depreciation
Depreciation stops as of the loss date.
3. Receive the insurance payment in 2026
Payment date: 15/01/2026
Amount: €28,000
➡️ Recorded in 2026.
Key takeaways
Mark the asset as lost or broken in Accountable as soon as the theft or damage occurs, and store all supporting documents in your document archive.
Depreciation stops on the date the asset is lost or becomes unusable, regardless of when the insurer settles the claim.
The insurance payout is recorded as non-invoice revenue, and the financial year it falls in is determined by the payment date, not the theft date.
Need help? Chat with us or email support@accountable.eu, we're happy to help.