By default, the contra accumulated depreciation account is created as an asset account. If you are referring to having individual contra accounts for individual assets, you can do that just as easily as you can have individual asset accounts. I’m pretty sure that’s what @Brucanna meant. To my thinking, that would all be a lot more work than it’s worth.
If you use the built-in fixed asset module, it all works perfectly. The balance sheet stays nice and simple. If you need the breakdown, export the
Fixed Assets register or generate a Fixed Asset Summary under
Reports. I’ve looked at a lot of balance sheets from all different sorts of companies in my day, and I don’t recall ever seeing individual assets at the balance sheet level. When I look at a company’s balance sheet, I don’t want to be bogged down in individual computers, drill presses, fork lifts, store fit-outs, and the like. Maybe a few major categories. Look at a few annual reports to see what I mean.
That said, if you want the detail on the balance sheet, Manager will do it for you.