How do I record an asset depreciation?

To record a depreciation amount for an asset, a journal entry has to be created. To do this:

  • Click the Accountant tab from the left sidebar and go to Manual Journals.
  • Click + New Journal and choose the Depreciation Account for debits and a corresponding account for credits, i.e, the account under which the asset was recorded.
  • Fill in the necessary details and click Save and Publish.
Record Depreciation

Now, the transactions in this manual journal will reflect in their corresponding accounts.

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