I have two questions.
How do I break up the expense account Fixed Assets - Deprecation into four separate depreciation accounts? I can’t work out how to do this.
Second question - my accountant has depreciated some of my fixed assets which has put an amount on the balance sheet and the same amount in P&L. Naturally when I start my new year 1st April, I will not see the entry on the P&L statement. What happens to the depreciation amount on BS. Does that always remain even long after I have got rid of the asset which won’t occur for a few years?