Depreciation

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  • Updated 4 years ago
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.
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Jane Pollard

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Posted 5 years ago

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Alice

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I have the same question. Is there any one who can answer? Much appreciated.
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.
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Alice

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My question is, does Reckon has the function such as setting up asset depreciation schedule?
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.
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Alice

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Thanks. 

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