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abufz2018
abufz2018
Level 1
posted
‎09-26-2019 04:49 PM
last updated ‎September 26, 2019 4:49 PM

How to add an Accumulated Depreciation in QuickBooks online for each fixed Asset Separately and accumulate for each type, please advise steps with video support

1.As we are at end of the year, i wanted to record accumulated depreciation of my all Fixed asset .

2. i am not sure if we created a proper  depreciation account for  each Fixed Asset/type, hence i want the steps to create  and step to record the accumulated depreciation ,so the effect will take place .

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1 Comment
Rustler
Rustler
Level 15
‎09-26-2019 04:49 PM

There are several ways to structure the fixed asset accou...

There are several ways to structure the fixed asset account list, I do it like this
fixed assets
>>Truck, Dodge 1500
>> >> cost
>> >> accumulated depreciation Dodge 1500

>>Van, Mercedes
>> >>cost
>> >> accumulated depreciation Mercedes

journal entry
debit depreciation expense
credit fixed asset accumulated depreciation, Dodge 1500
credit fixed asset accumulated depreciation, Mercedes


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