DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Journal entry doesn't 'see' account to which I need make entry


#1

My accountant has asked me to make a journal entry. This is to the Fixed assets accumulated depreciation which is in my chart of accounts.

However, when I try to choose this account in the journal I cannot see it.


#2

Make all your fixed asset entries under the Fixed Assets tab. If you are trying to enter depreciation, select the asset and click on the blue balance under the Accumulated Depreciation column. You’ll see a button to add depreciation.

If that’s not what you’re trying to do, please be more specific.


#3

That’s solved that problem thanks but there is another. The accountant has asked for a journal entry - Dr fixed assets depreciation & Cr loss on disposal. Using the same instructions doesn’t give me a Dr entry or choice of where Cr should go. Neither do I seem to be able to make a journal entry.


#4

Again, everything to do with fixed assets should be done under the Fixed Assets tab. See http://guides.manager.io/businesses/fixed-assets/disposals. Select the asset and check the Disposed fixed asset button and enter the date when that box appears. Manager will transfer undepreciated amount to Fixed assets - loss on disposal account automatically.

If you sell the asset, you need another transaction to Receive Money in a cash or bank account. In that transaction, select the Fixed assets account and the subaccount for the specific asset. Again, the transfer of any loss (or gain) will go automatically to the Fixed assets - loss on disposal account.

Journal entries for fixed assets have basically been eliminated.


#5

Thanks Tut. Still not sure if I fully understand this but will keep answer on file for the next occasion. As it happens, there was an error in my bookkeeping which I have now corrected and so the journal is not needed anyway.