Summary of Steps to Enter a Fixed Asset:
- From the Accounting Home navigate to the Fixed Assets tab
- Click New Fixed asset
- Enter the fixed asset name and value and click "Save".
Summary of Steps to Depreciate a Fixed Asset:
- Navigate to the Fixed Asset record for the asset you wish to depreciate
- Click on the "Depreciate Asset" button on the Fixed Asset. Enter the following fields as appropriate:
- Populate the following fields
- Starting Accounting Period
- Amount per Accounting Period
- Number of Accounting Periods
- Debit and Credit GL Account
- Any additional data tags you would like.
- Click the Depreciate Asset Button. Amortization entries for the number of periods selected will be automatically entered as scheduled expense entries in the related list below the asset.