I created a fixed asset account when a company vehicle was purchased but did not check the boxes to track the depreciation. Is there a way to go back in to the vehicle fixed asset account to check the boxes without starting over as in deleting the existing vehicle fixed asset account - which will mess up journal entries and creating a new fixed asset account for the vehicle to be able to check the depreciation boxes?
Just open the chart of accounts, create a new fixed asset account and name it, you can also make it a sub account if you wish. A depreciation account is just a fixed asset account.
Thanks for the quick response. I tried to create a new account so that it would be set up correctly but it said there was already an account with that name - I tried several variations and nothing took. I ended up just creating the sub account as you suggested. I am going to be totally screwed if the company purchases more than 1 truck in a year!
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