Rum
4 years agoExperienced Cover User
Instant asset write off journal entries
Should I record an instant asset write off as an expense or depreciation via the balance sheet? Thanks
Hi Rum
All Assets should be recorded to a Fixed Asset account in the Balance Sheet, and then the depreciation should be recorded to an Accumulated Depreciation account in the Balance Sheet and Depreciation expenses account in the Profit and Loss
Thank you Ian. Much appreciated.
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