2.4.1 depreciation basics

[David Carlson]

On 5/25/2014 3:02 PM, CCAAT wrote:
> OK
>
> So I performing my first straight line depreciation. Bought
> a truck, Wrote 2 checks a few weeks apart for it
> 5K for the truck, 668.62 for the taxes. Accountants
> says to do 60 month straight line
>
> math is 94.47 for 59 months and 94.89 for the 60th month.
>
> The 2 checks were first entered into the checkbook register
> as they occurred. I followed the depreciation example given
> in the  Ramachandran book (version 2.4) on page 159.
>
> After I was done creating the truck depreciation account for
> 5668.62 and manually put 3 months into depreciation for oct,
> nov and dec 2013, the check book register combined the checks
> as a single entry on the check book register.
>
> Advice or and explanation  or better yet a documented example of
> what to do so I can follow it wold be appreciated.
>
>
> James
>
>
>
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I am just another user and I have not seen that particular manual. 
However, I will hazard a guess that actually the depreciation
transactions are not related at all to the purchase transactions, with
the possible exception that they may all have split lines in the asset
account  for your truck, depending on what account you used to
accumulate the depreciation.

Further, the check for the taxes probably did not contain a split line
in the asset account for the truck, since it was just a tax payment. 
Thus you probably did everything right except for being in the register
for the truck asset account, where you should not see the tax payment. 
That would be in the checking account register.

It would behoove you to take care whether the amounts are correctly
placed in the right hand or left hand column, "Deposit" or "Withdrawal",
"Increase" or "Decrease" or otherwise named in the registers for
different account types.

Your welcome.

David C