Depreciations

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If you are not using Realtimme Fixed Asset register and choose to pass monthly journal entry to depreciate your fixed assets, follow the example below.

 


Assuming you have the following depreciation summary reports to be passed through in the accounts

for the month of Jan 2020

 

 

COA

Debit

Credit

Depreciation expenses                

O-D003-1

650.00

 

Acc Depn – Furniture & fittings

B-F001-1

 

300.00

Acc Depn – Motor Vehicle

B-M001-1

 

150.00

Acc Depn - Office Equipment

B-O001-1

 

200.00

 

 

At [A/c Entry], click [GL Journal]

 

Click [Add]

 

 

 

 

If the asset is fully depreciated,

 
Assuming you have an office equipment that is fully depreciated
 

Cr   Office Equipment                                                 2,300.00                                                        
 
Dr    Accumulated Depreciation - Office Equipment                          2,300.00

 


 

 

 

See Link from Realtimme Fixed Asset Register


 

Related Topics

Fixed Asset Module

 

Fixed Asset chart of accounts

 

Recurring GL journal for repeating GL journal

 

 

 

 

Watch all videos:

Realtimme Training Portal

http://realtimme.cloudapp.net/basic/index.html?gl_depreciations.htm