cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

I bought a computer and I created an asset account for it and slowly depreciating it but how do I add the transaction even though im not expensing it?

 
1 Comment
Highlighted
Community Champion

I bought a computer and I created an asset account for it and slowly depreciating it but how do I add the transaction even though im not expensing it?

Annually or more often record a journal entry debit Depreciation Expense and Credit Accumulated Depreciation.

 

Did you know that if the computer with tax cost less than $2500 that you can direct expense the entire amount this year as small tools and equipment without need to depreciate or track asset value? It is called safe harbor de minimis

Need to get in touch?

Contact us