Capital Allowance/Depreciation

Accounting
1

Hi,

Being a newbie I have recently completed my year end accounts and locked the year end. i realise how to unlock year end and think I need to do this to show my HMRC Capital Allowance used which will match my depreciation figure.
I have tried creating a journal to show depreciation and using the same entry on capital assets but it doesn’t appear to work correctly.
Please could someone advise using easy step by step instructions on how I can get this to show and thus reduce my profit and capital assets.
Also would I have to date the journal entry the date I want this change to apply.
Sorry rather confused by an otherwise excellent accounts package.

Thanks in advance

2

bump…as no reply

3

You may want to post this on somewhere like Accounting Web, we don’t have a great number of accountants on this forum and there’s always a bunch of caveats with accounting related queries, so it’s hard to give a definitive answer.

http://www.accountingweb.co.uk/anyanswers

or possibly:

4

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