Adding an Asset

Hi, great program.

Just got 1 question, how do I add an asset that is half way through its useful life when I’ve only just started using quickfile this accounting period?

I’ve added all banks and loans (taken out for the some of the assets) and set the opening balance as per the closing balance last year. I’m now left with several assets to enter onto the system, all were purchased outside this accounting period when I mas manually bookkeeping and had some depreciation applied.

So do I add the asset as to what value was remaining from the beginning of this accounting period, and if so how do I account for the assets coming into the company.

Or do I log the original purchase date (outside this accounting period) and add all the depreciation amounts again (also outside this accounting period)

Or do I do something completely different, Thank you Amy.

1 Like

You need to enter your opening balances from the start of the financial year as a journal, we also have an upload tool to assist. The value of the assets and depreciation to date will also be contained in the opening balances.

This topic was automatically closed after 7 days. New replies are no longer allowed.