Depreciation and Amortization


  1. Create a Long-term Asset account (or Equipment account) and name it something like "Printer"
  2. Create an Accumulated Amortization Equipment account. Name it something like "Accumulated Depreciation: Printer"
  3. Select Purchases on the left-hand side, select Bills and then Create a bill for the printer and mark it as paid
  4. Add Journal Transaction (and repeat each year till sold or accumulated depreciation used up -- see here)
Journal Entry
Depreciation Expense $50
Accumulated Depreciation: Printer $50

good discussion about this topic is at

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  • 10 months ago by vince