Quickbooks Depreciation

Forgive me but I still don't understand how to get FAM in QuickBooks Enterprise to auto-calculate depreciation for assets. All the referenced articles only explain how to set up FAM, set up GL account for depreciation, how to create JE's but not how to actually get FAM to calculate the depreciation amounts for the JE's.

Hello there, @AccountingAtEvergreen.

It would be my pleasure to help provide clarification about using Fixed Asset Manager (FAM) in QuickBooks Desktop (QBDT).

When using the FAM feature in QuickBooks Desktop, it help computes depreciation of fixed assets based on the standards published by the IRS. Upon setting it up, it'll sync the application to your QuickBooks, which contains personal data related to your business.

FAM calculations and reports based on a defined period. The program uses these dates to automatically compute prior year depreciation when an asset entered into FAM. To better isolate this issue, you may want to check the dates when you set up FAM and make sure it hasn't ended yet.

You can get more information at this link: https://quickbooks.intuit.com/community/Reports-and-accounting/Set-up-Fixed-Asset-Manager-FAM/m-p/20...

I've also added these articles to help you manage and move your fixed asset data to your new device: 

• Manage fixed assets using Fixed Asset Manager (FAM)

• Move fixed asset data to your new QuickBooks or another computer.

I'll be more than happy to serve you again. Keep your posts coming if you need more help.

Thank you for attempting to answer my question by replying:

"When using the FAM feature in QuickBooks Desktop, it help computes depreciation of fixed assets based on the standards published by the IRS"

Unfortunately my question remains  unanswered.

I understand that FAM will compute depreciation but how does it do that?

I am looking for a report that reads:  Depreciation Equipment - $xx,xxx.xx

                                                          Depreciation Leasehold Improvements - $xx,xxx.xx

In turn I create a Journal Entry listing those amounts and record in QB Enterprise.

Your reply also states: "Upon setting it up, it'll sync the application to your QuickBooks"

Yes, the FAM syncs up the fixed asset information to my QuickBooks but how, then, do I get a report that tells me what the Depreciation is???