So far , so good. I had calculated the deprecation on one fixed asset outof a list of 6 invested fixed assets. I followed exactly the instructions in the guide and I see the calculated amount credit on the balance sheet. But… if i look on the P&L sheet I still see a blank on the row deprecation fixed assets. So where can I see the cost of deprecating this fixed asset. At first sight it looks like debet unequals credit, but if I lookup in the accumulated results I’ll find a debet booking deprecation fixed assets. But however I don;t see on which account this debet booking has been placed.
And the second observation is, that if I do the same procedure as above for the subsequent period in case of the same fixed asset, the bookvalue is the same value for which I bought this fixed asset and the amount of the second deprecation period is not on the balance sheet. To me the described procedure on calculating and especially automatic booking of deprecations is not completely clear. What goed wrong?
Thanks for any attention on this subject.
Bert
You did not say how you calculated depreciation on the fixed asset. Did you, in fact, use the Depreciation Calculation Worksheet? And did you then enter the depreciation by clicking on the New Depreciation Entry button?
Does the date range for your Profit and Loss Statement include the date of the depreciation entry?
Where, exactly, are you looking? A depreciation entry creates a debit to the Fixed assets - depreciation expense account and a credit to the Fixed assets - accumulated depreciation contra asset account. But, if your date range is set wrong, whether for a Profit and Loss Statement, or for the Summary, you will not see the debit.
I suspect that you have the dates for the subsequent period entered incorrectly. However, are you actually using the declining balance method for depreciation? If not, you cannot use the worksheet. There is a prominent warning about this in the Guide.