Depreciation of Assets (N/L codes not matched to the Fixed Assets) for Balance Sheet report

[alan_mcbrien]

I have had difficulty understanding how depreciation of assets worked within QF and also in general, but after reading various posts I got my head around where the postings for depreciations should be posted.

So, I started again from the beginning to correct my previous misunderstanding. In the process of doing this I created two further Fixed Assets and related Depreciation nominals;
0060 Vehicle Reg. Plates
0061 Vehicle Reg. Plates Depreciation
0070 Climbing Kit
0071 Climbing Kit Depreciation

When doing a Balance Sheet (for the first year 30/11/2012) these two new classes of Fixed Assets are not reporting the Accumulated Depreciation next to the relevant Fixed Asset but reporting these depreciations further down on the report at Current Liabilities (only Climbing Kit Depreciation shown as Vehicle Reg. Plates Depreciation has not yet been used).

Is there something that needs to be done so the Accumulated Depreciations for these new nominals appear in the correct place on the Balance Sheet?

[alan_mcbrien]

Will you fix the DEPRECIATIONPARENT for the two new asset classes so the Balance Sheet reports the Accumulated Depreciations?
0061 Vehicle Reg. Plates Depreciation = DEPRECIATIONPARENT 60
0071 Climbing Kit = DEPRECIATIONPARENT 70

I think that should then fix the report. Many thanks, Alan

[alan_mcbrien]

Been doing some further background reading “HMRC Capital Allowances Manual” and realised that these additional asset classes are not required as the items should be put under “Plant and Machinery” for the climbing kit and “Intangible Assets” for Vehicle Reg. Plates.

Please disregard my last posting about this matter and close this item. Thanks.

[alan_mcbrien]

Not to be contrary, but I have had another re-think about this. I have created two additional nominal ledgers within Assets and Liabilities > Plant and Machinery

0022 Plant and Machinery (LOLER)
0023 Plant and Machinery (LOLER) Depreciation

An option to set the DEPRECIATIONPARENT when creating the depreciation nominal is unavailable and so the Balance Sheet Report shows the depreciation lower in the report at Current Liabilities.

Would you please help with linking these two nominals.
0023 Plant and Machinery (LOLER) Depreciation requires DEPRECIATIONPARENT = 22

[QFMathew]

Hi @alan_mcbrien

I’ve taken a look at this for you. When I view the nominal 0023, I do get the option for depreciation parent (Parent Asset Code):

I have set this for you, so hopefully this now shows correctly.