I need your help to understand how depreciation works.
I bought a laptop, tagged it as an asset and now, at the end of accounting period I want to apply depreciation.
If I am entering manual journal, debiting 0021 and crediting 0020 it gives no result to me. I still will get the same amount when I will run the balance report.
So, how depreciation works in Quickfile, should I debit 8001 and credit 0020? In this case it will reflect on P&L report and as I understand you do not claim depreciation as an expense. I am struggling with this so badly, I hope somebody could help.
Million thanks in advance.