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Enter a depreciation transaction

If your accountant uses the QuickBooks Fixed Asset Manager and you track your fixed assets with fixed asset items, you may not need to enter depreciation transactions. Ask your accountant for more information.

  1. Go to the Lists menu and click Chart of Accounts. Shortcut

  2. Double-click the subaccount that tracks accumulated depreciation for the asset you're depreciating.

  3. Enter the transaction in the bottom of the register:

    • Enter the depreciation amount as a decrease in the register.

    • In the Account field, enter the expense account that you set up to track depreciation.

  4. Save the entry.

  5. If you use a fixed asset item to track this asset, you can edit your fixed asset item and record that you've entered this depreciation transaction in the Notes field.

Effect on your accounts

In the asset's fixed asset account, QuickBooks subtracts the depreciation amount from the cost of the asset.

In the account that tracks depreciation, QuickBooks enters the depreciation amount as an increase to your company's depreciation expense.

See also

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