Acc.Deprecition
This query is : Resolved
29 January 2011
in Acc.Depreciation we made entry for all the assets in asingle Journal entry or seperate entry for each assets
Eg: depreciation DR 2500
To Acc. Depre Furniture 1000
To Acc. Depre Machenery 1500
OR Depreciation DR 2500
To Acc. Depre 2500
Eg: depreciation DR 2500
To Acc. Depre Furniture 1000
To Acc. Depre Machenery 1500
OR Depreciation DR 2500
To Acc. Depre 2500
29 January 2011
Always keep the depreciation reserve in Asset categorywise, it is good for further tracking and writting off the reserve accounts
so pass this entry
depreciation DR 2500
To Acc. Depre Furniture 1000
To Acc. Depre Machenery 1500
so pass this entry
depreciation DR 2500
To Acc. Depre Furniture 1000
To Acc. Depre Machenery 1500
30 January 2011
Agreed with Mr Krishnan, in fact all ERP systems maintain separate GL accounts for each category of assets and make automatic postings asset wise on making the depreciation run, in case of non ERP software it is always beneficial to post separate entries and if possible by asset as it will help at the time of disposal of assets for gain or loss calculation.
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