Recording previously purchased and depreciated assets

How-to
1

Hi
I have just started to use quickfile and loaded all transactions for the current financial year using the back upload and taging.
However how should I setup assets purchased in previous years and the depreciation they have already had?

For example IT equipment purchased 2 years ago that still has a book value.

Hope I have explained that OK any advice greatly apricated

2

Use a journal to record the asset and its accumulated depreciation

1 Like
3

Thanks If i use a journal for say office equipment (0030) as a credit what other code is for the balancing transaction?

4

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