How to Record Depreciation of an Asset

Just to check that I will be entering this correctly. I have a Motor Vehicle Account set in Assets, do I then set up in Expenses a Depreciation and Loss on Sale'

http://www.solaraccounts.co.uk/help/how-to-record-depreciation-of-an-asset.php

Posted by Tom Beattie on Jan 11, 2012 10:44 AM GMT

Hi Tom,

The default set of accounts includes a 'Depreciation and Loss on Sale' expense account. If is not there for some reason then yes, you can create it by clicking menu File > New > Account, and setting the Account Type to 'Expense'.

Regards,

Posted by Mark McLaren (Solar Accounts) on Jan 11, 2012 12:37 PM GMT