How to pass a depreciation entry to maintain a Gross Block?

How to pass a depreciation entry to maintain a Gross Block?

Step 1. Create a Ledger "Accumulated Depreciation of relevant Asset (E.g. Accumulated Depreciation of Computer) under

Login to ADDA -->> Admin --->> General Ledger-->>Chart Of Accounts-->>Asset.

Step 2. Create a Depreciation head under General Ledger-->>Chart Of Accounts-->>Expense.

Step 3. Pass a Journal Entry from General Ledger-->>Journal Ledger by Debiting the Depreciation Account and crediting the relevant Accumulated Fixed Asset Account.



    • Related Articles

    • What is the Journal Entry for Asset Depreciation?

      Reduction in value of tangible fixed assets due to normal usage, wear and tear, new technology or unfavorable market conditions is called Depreciation. Journal entry for depreciation depends on whether the provision for depreciation/accumulated ...

    • How to pass a journal entry?

      Journal entries can be used when setting up ADDA and when closing account books. Opening Balances can be added to ADDA by posting the Journal entries and other entries like Depreciations, provisions etc. can be updated through journal entries. Please ...

    • How to pass the deposit/Transfer/Contra Entry entry ?

      Please follow the below steps to pass deposit/Transfer/Contra Entry entry: Step 1: Login to ADDA -->> Admin-->> Bank & Cash -->> Transfer Step 2: Select "Petty Cash" in the "From Account" list box. (if cash has deposited into the bank) Step 3: Select ...

    • How to mark wrong visitor entry?

      Please find the steps below to mark a visitor as the wrong entry. Step 1: Go to ADDA App > Gate Updates. Step 2: Click on the guest name which you want to mark as wrong entry. Step 3: Click on the 3 dots at the top right corner > Click 'Mark as Wrong ...

    • How to pass write off entry for vendors?

      Please refer to the below steps to pass write off entry for vendors: Login to ADDA ->> Expense Tracker ->> By Vendor ->>Search for the vendor ->> Click on Payment ->> Below you will find "Write Off Invoice".