Record a depreciation adjustment
Enter a reviewed journal adjustment and keep it separate from individual asset schedules.
On this page
Review the depreciation record
Check the amount, period, property scope and whether the depreciation was already posted through Fixed assets > Annual review.
Open the adjustment
Use Add transaction > Depreciation adjustment in the adjustments section. Enter the reviewed date, scope, accounts, amounts and supporting reference requested by the journal form.
Review and post
Review balanced journal lines and the period before posting. Inspect the saved journal and relevant report. A general adjustment does not update each fixed asset’s annual schedule.
Check the result
- The saved journal and report show the reviewed depreciation adjustment without a duplicate annual posting.
FAQs
Should I also post the same year through Annual review?
Check for an existing adjustment first. Use the offered Link posted years workflow for eligible existing records rather than posting the same depreciation twice.
Is this a bank transaction?
No. A depreciation journal is a bookkeeping adjustment. It does not make a bank transfer.