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 “Configurable Notes in Visitor Pass” feature?

      This feature in the ADDA Admin Portal allows Admins to add custom notes that appear on Expected Visitor Passes. These notes help share important community rules or instructions with visitors, ensuring a smooth and informed entry experience. Steps to ...
    • 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 ...
    • As a admin How can I block amenity reservation for certain days in ADDA?

      You can block amenity reservation by following these steps: Step 1: Go to Amenity & Event → Setup → Click on Edit against the Amenity. Step 2: Scroll down to the Amenity Reservation Rules section. Step 3: Here, you will find the option to block ...
    • 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 ...