Depreciation

Jane Pollard
Jane Pollard Member Posts: 1
edited September 2018 in Accounts Hosted
It would be really useful to be able to set up a monthly journal using the diminishing method to Depreciation expense to the Profit and Loss so clients were informed of a more accurate profit.

Comments

  • Alice
    Alice Member Posts: 3
    edited May 2015
    I have the same question. Is there any one who can answer? Much appreciated.
  • cosmic
    cosmic Reckon Developer Partner Posts: 1,037 ✭✭✭
    edited September 2018
    sorry, what are trying to ask? you can do this manually, now.
    of course , the tax dep is normally done by your tax agent using their tax practice application, in this case we use Reckon Elite.
  • Alice
    Alice Member Posts: 3
    edited May 2015
    My question is, does Reckon has the function such as setting up asset depreciation schedule?

  • cosmic
    cosmic Reckon Developer Partner Posts: 1,037 ✭✭✭
    edited September 2018
    Reckon, has Fixed Asset box where you can enter info of your asset, but it will not do tax depreciation , to what you want, i had this issue for long  time, the way to do is go to ATO site and get the tax dep rate and do the journals. and then your tax agent will do their tax dep reconcilation with the practice software, thats what we do. Main thing is you can still achieve your tax depreciation in your PL. Your tax agent should help you.
  • Alice
    Alice Member Posts: 3
    edited May 2015
    Thanks.