In this article, we will teach you how to enter a Manual Depreciation Event where a Depreciation Worksheet is not being used.
Manual Depreciation cannot be used if a Depreciation Worksheet is already set up for a property as it will duplicate the depreciation. We recommend avoiding using the Manual Depreciation as you won't benefit from the automation features that you would if using the Depreciation Worksheet.
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.
Learn how to add assets to a Depreciation Worksheet