Ed Talk to your accountant, or google for Accounting 101. Why the double shuffle with the acquisition ? And to depreciate : Dr Depreciation expense Cr Accumulated Depreciation. Don't touch the cost. You're welcome David J
> Hi > > I'm sure that there are plenty of examples somewhere on > the SL list, but I couldn't locate any easily with > google. > > Can someone please give me an example of the transactions > required to book buying an item like an office printer, > then adding it to the depreciable assets and finally > knocking off 40% for the first years depreciation? > > - I am using a fairly close to default COA. > - I buy my printer with an AP invoice, booking it into > something like an admin expenses account called "Computer > Expenses". - I then put in a journal entry to transfer it > from here into my capital assets ledger: "Office > Furniture & Equipment " - Then I put in another > transaction to shift 40% from the capital assets account > into "Accum. Amort. -Furn. & Equip. " > > This all looks nearly correct on the balance sheet, but I > don't appear to have the depreciation turning up on the > Income Statement report? What am I missing? Does this > sound like the correct way to book the transaction? > > > What I *think* I am doing wrong is that last transaction? > Should the book assets account remain showing the full > book value of the assets, and instead the transaction is > something like credit "Computer expenses", debit "Accum. > Amort. -Furn. & Equip. "? This would seem to make more > sense > > Also, would it be better to set up the COA so that the AP > invoice directly books into the capital assets account? I > guess Dieter intended these kinds of capital assets to be > entered directly using a GL transaction rather than an AP > invoice? In my case it's useful to track the seller > details though > > So, in conclusion should the correct transactions be: > > - AP invoice -> Office Furniture and Equip (asset account) > - GL: "Accum. Amort. -Furn. & Equip. " -> "Computer > Expenses" (or similar cost account?) > > Cheers > > Ed W > > ------------------------------------------------------------------------- Using Tomcat but need to do more? Need to support web services, security? Get stuff done quickly with pre-integrated technology to make your job easier Download IBM WebSphere Application Server v.1.0.1 based on Apache Geronimo http://sel.as-us.falkag.net/sel?cmd=lnk&kid=120709&bid=263057&dat=121642 _______________________________________________ sql-ledger-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/sql-ledger-users
