In this article, we will teach you how to enter a Manual Depreciation Event.
Manual Depreciation events are used when a property does not have a Depreciation Worksheet set-up.
You should always use Depreciation Worksheet, we only recommend that you use Manual Depreciation if "Division 43" is not included. It is always best to use automation to ensure capital works depreciation and tax-deferred adjustments are correct.
Navigate to Fund Level > Transactions > Fund Expenses > Depreciation.
- Enter the Depreciation Type, by clicking on the drop-down box.
Use "Capital Allowances" for Division 40 depreciation or "Capital Works Deduction" for Division 43 depreciation.
- Search and select the Property Account, this is the property the depreciation relates to.
- Enter Depreciation Date.
- Enter Depreciation Amount
- Enter Description, or use the default description populated from Class.
- Click the Submit button.
Process your Depreciation Schedules using the Depreciation Schedule / Purchase article that helps you utilise Automation.