How would I show existing plant brought in a previous financial year and also how would I show depreciation on my plant
Hi Frank,
Click menu File > New > Account. Enter an account type of Asset and name it 'Plant'. The opening balance should be the value of the plant at the beginning of the financial year.
To record depreciation create a new General Transaction (click menu File > New > General Transaction) from the 'Plant' account to the 'Depreciation and Loss on Sale' account.