Include Fixed Asset name in Depreciation entries

The latest version V20.2.77 has enabled control accounts for Fixed Assets thus allowing the Balance Sheet to group fixed assets by type eg Land, Plant & Machinery, Furniture and Fittings and the P&L to split depreciation by the same groups, if required, which is a great new feature

I use straight line depreciation using different % depending on the life of the asset, so the Depreciation Worksheet is of no use to me.

I have setup custom control accounts for my Balance Sheet accounts and allocated each asset to the appropriate account.

I do not need to split my P & L Depreciation into separate accounts, so I have not created any custom P & L Depreciation accounts but use the built-in Depreciation Account

I calculate the annual depreciation and then fill in the Depreciations entries form
It is very easy to fill in the form as the identity of each fixed asset is selected and displayed.

The total depreciation charge for the year is 9904.50

This is the value shown on the Summary page

If I drill down on this amount, I get a breakdown of the depreciation charge as expected. However the Description column contains the Description header field from the Depreciation Entry form (in my case “Annual Depreciation 2019-20”). I would prefer to see the name of the fixed asset as it appears in the Depreciation Entry Form or better still a combination of the Header Description and the Fixed Assed name eg “Annual Depreciation2019-20 - Freehold Land & Building” so that the origin of the value is explicit

Yes I have noticed that too and agree that would help. Stating the name/Code of the asset would be cool

Can you please clarify your suggestion, @joe91? The new custom control account feature applies to balance sheet accounts, not the profit and loss statement. So what depreciation entries are you referring to? Are you referring to entries created by the Depreciation Calculation Worksheet? If so, that has nothing to do with custom control accounts. Would you please edit your post and possibly illustrate to explain exactly what you mean?

I have re-edited my initial post above to better explain what I was looking for.

I could achieve what I would like by creating one Depreciation Entry form for each fixed asset and putting the name of the fixed asset in the heading as below but that seems a very clunky sort of workaround

Thanks, @Joe91. All is now clear. I can’t classify this as a bug, because the program is doing what it was designed to do. But I’m putting it into the ideas category.

The same situation occurs in the Depreciation Entries tab listing itself. The summary-level description is used rather than the line-item description.

The latest version V20.6.44 has the fixed asset name in the depreciation entries in the P & L wheter you are drilling down from the P&L or from a report or viewing the Depreciations entry itself

:+1: :+1: :+1: :+1: :+1: :+1: :+1:

@Joe91 and @Abeiku, are you satisfied that what you wanted is accomplished? If so, I will take this topic out of the ideas category.

Yes @Tut please take it out.