On 12/8/2021 7:50 PM, Gyle McCollam wrote:
What I do is set up a placeholder account for the asset. I set up sub accounts
for the actual asset purchase and another for the depreciation of the asset.
You could then set up a scheduled transaction to record the depreciation each
month, quarter, semiannually, or annually depending on how you want to record
it. There you can set up how many depreciation transactions you would like and
it will stop at that point.
Book value vs real value
a) A business subject to taxation USUALLY depreciates fixed assets as
rapidly as possible. Non-profits(in the US at least) are allowed great
freedom in the time period they use. It is not related to what the
actual residual value of the asset might be.
b) Usually (in the US) it is year or fraction of year. Usually doing
"depreciation" is part of end of year (calendar or fiscal) processing
and not monthly, etc.
c) Yes, for each fixed asset usual to have a sub-account for "basis"
(what it cost) and a sub-account for all the depreciation charges. But
if the org had a lot of fixed assets bought each yes, I'd probably do
"by year" with accounts for "bought in year" and "depreciation" and only
work with the totals.
Michael D Novack
PS -- About "director loans" --- WHY are you going through the "business
features" for these? They are NOT receivables or payables but only exist
if and when received or paid out. Or at least I believe that to be the
case. I am NOT "qualified" to give business law advice about that and
certainly not for your jurisdiction.
_______________________________________________
gnucash-user mailing list
gnucash-user@gnucash.org
To update your subscription preferences or to unsubscribe:
https://lists.gnucash.org/mailman/listinfo/gnucash-user
If you are using Nabble or Gmane, please see
https://wiki.gnucash.org/wiki/Mailing_Lists for more information.
-----
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.
