Depreciation fixed assets (expense) account

[Brucanna]

The dedicated Depreciation Account is a Control Account and therefore doesn’t appear in the drop down menus as it can only receive expense entries via the Fixed Assets tab Depreciation feature. If you want bring to account depreciation externally of the Fixed Assets tab, need you need to create your own P&L Depreciation Expense account and BS Prov for Depreciation account.

Here is the Guide for the in-built depreciation system

Depreciating fixed asset

To depreciate a fixed asset, go to the Fixed Assets tab. Click on the figure in the Accumulated Depreciation column. This will transfer you to the depreciation register for the selected asset. You can now use the New Depreciation Entry button to enter the depreciation expense amount.