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Intuit
7 helpful votes

Record depreciation without using Journal Entry

You can depreciate an asset without the use of a Journal Entry. After creating a depreciation expense account, follow the steps below:

At the end of the year when you or your accountant have calculated the depreciation amount, enter the transaction below:

  1. Select Create ⨁, then select Expense.
  2. Under Category Details, select Other selling expense, then enter the depreciation amount in the Amount column.
  3. In the second line, select the asset account you are depreciating and enter the same amount in a negative figure.
  4. Select Save and Close.

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