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Bringing in plant from previous year and depreciation

How would I show existing plant brought in a previous financial year and also how would I show depreciation on my plant


Posted by Frank Leggett on Jan 28, 2009 9:37 AM GMT

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.


Posted by Mark McLaren (Solar Accounts) on Jan 28, 2009 10:34 AM GMT