Manual Depreciation Example

You can manually post a depreciation charge against a fixed asset such as a vehicle or machinery. This example shows how to post a ú50 depreciation value against a company car or van.

1. Change your program date to the last day of the month or period you are posting the depreciation for, to ensure the journals are posted on the correct day.

2. Open the Nominal Ledger then click Journals.

The Nominal Ledger Journals window appears.

3. Insert the following Journal Entries against the following nominal codes;

N/C Name Details T/C Debit Credit

8003 Motor Vehicle Profit & Loss T9 50.00

Deprec. Charge

0051 Motor Vehicle Balance Sheet T9 50.00

Deprec. Charge

4. Click Save.

The journal entries are posted to the appropriate nominal codes, which will be reflected on the Profit and Loss and Balance Sheet.