Depreciation

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chaitra (Querist)
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28 October 2016 Depreciation JE Depreciation A/c Dr
To Accumulated Depreciation Cr
If we record depreciation under direct or indirect expenses as per usage of organisation.
Accumulated depreciation will be record under which parent head? Please explain me with the reason...

Amol S Joglekar

Amol S Joglekar (Expert)
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28 October 2016 Fixed Asset.
The reason is that it is the accumulation of depreciation to be deducted from the ASSETs.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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28 October 2016 Accumulated depreciation to be maintained under companies act, gross Block, depreciation Block and net Block, so depreciation to be charged to Accumulated depreciate reserve Account same to be grouped under FA.

Other than Company you can directly charged to respective asset.no need to create depreciation reserve a/c.

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