Recording Depreciation

Depreciation is recorded in the software while doing the year end processing. This needs to be recorded at a fair percentage calculated according to the wear and tear or according to the prescribed laws.

Let me show you how depreciation is recorded in Moiboo Software.

1. Click Settings, under Settings tab.

2. Click Account Ledger, under accounting tab.

3. Now click add a account button.



4. Then Select Group (Other expenses)

5. Add ledger name (Depreciation).

6. Add Opening Balance( 0).

7. Now click create.



8. Go to Journal under accountant tab

9. Click add journal Button



10. Add a Description for your reference.

11. Select the Date.

12. Fill the Reference Number and click Here is the Proof.

13. Now select Depreciation ledger and add amount under credit column.

14. Select fixed asset (Computer) and add sale amount under debit column.

15. Then save.