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Business Accumulated Depreciation off-set account to the asset account

Good morning: how to set this up such that that Accumulate Depreciation accounts follows immediately after the relevant Asset account and results in a 'net' value on the balance sheet i.e. Asset value less Accumulated Depreciation = net value. Thanks

Comments

  • Quicken Sarah
    Quicken Sarah Administrator, Moderator mod
    Hello @Jamie64x

    Thank you for taking the time to share your question with the Community, although I apologize that you have not yet received a response.

    If you are still needing assistance with creating reports in Quicken, please take a moment and review the information available here, and post back to let us know what version and release of Quicken you are using.

    Please also provide a little more information on what exactly you are trying to accomplish in Quicken.  The more information you can provide will help the Community to better understand and assist.

    Thank you,

    Sarah

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    You can't do, in Q, what you're requesting.  And, I'd even question your use of Quicken for this.
    Look a Quickbooks, which is intended for this type of accounting. https://quickbooks.intuit.com/learn-support/

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Jim Vincent
    Jim Vincent Member ✭✭
    I agree that in general if you have assets to be depreciated you should use Quickbooks. However there are many personal assets that a person would like to depreciate - such as a home, auto, computer, and other personal assets. I am sure there is a way to do it, but at the momentI don't have time to document it. the areporting may be the tricky part.
    Jim Vincent, a former CPA, now just an old man - but with years of experience with both Quicken and Quickbooks. In fact, I believe I first started with Quicken in 2000.
  • YingDave
    YingDave Member ✭✭✭✭
    I do something similar for cars, which depreciate. Also for Home assets which appreciate instead (hopefully). I periodically book changes in value to category unrealized gains "_UnrlzdGain". I use this because the reporting customise setting by default shows the cost base (no unrealised gains). Then if you tick the box on report customise settings, Advanced to "Include unrealized Gains" the report gives you current value. Not really accounting treatment but quick way to flick between cost base and current value.
  • GeoffG
    GeoffG SuperUser ✭✭✭✭✭
    This can easily be accomplished by making a negative value entry directly against the asset account. While the depreciated amounts are not in separate account, they directly reduce the amount of the asset as intended. The "Depreciate Asset" payee can also be setup as a reminder to run at whatever interval you choose.
     user since '92 | Quicken Windows Premier - Subscription | Windows 10 Pro version 20H2
This discussion has been closed.