How to account for fixed assets and depreciation in QuickBooks

If you don't recognise the cost of depreciation in your accounts every month, then you'll think you're doing better than you are.

Some accountants leave depreciation as a 'year-end adjustment' and others might recommend apps and spreadsheets, but a sensible accountant or bookkeeper will do the bookkeeping when the asset is acquired and set the depreciation running each month with a recurring transaction that the software takes care of.

This is how it's done in QuickBooks, although the thought process works just as well in other software.

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