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Join nowHi, Bobby Chiggins.
I'm by no means an accounting professional, but I do have some insight to provide that can help get you with depreciation tracking.
To track the depreciation of an asset that you’ve already purchased (and added to the Chart of Accounts), you need two new accounts in QuickBooks:
After you set up these two accounts, you can record the asset depreciation with a journal entry.
Here's how:
However, I'd suggest consulting an accountant to help and guide on which account to debit and credit. Your accountant can provide more expert ways of dealing with this situation.
You can get more information about journal entry: https://quickbooks.intuit.com/community/Help-Articles/Record-a-journal-entry/td-p/203691.
Also, you may find these articles helpful:
You can always get back to us if you have more questions in tracking depreciation. Have a great weekend.