Depreciation and Amortization

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  1. Create a Long-term Asset account (or Equipment account) and name it something like "Printer"
  2. Create an Accumulated Amortization Equipment account. Name it something like "Accumulated Depreciation: Printer"
  3. Select Purchases on the left-hand side, select Bills and then Create a bill for the printer and mark it as paid
  4. Add Journal Transaction (and repeat each year till sold or accumulated depreciation used up -- see here)
Journal Entry
Depreciation Expense $50
Accumulated Depreciation: Printer $50

https://support.waveapps.com/hc/en-us/articles/208623506-How-do-I-handle-depreciation-and-amortization-

good discussion about this topic is at

https://community.waveapps.com/discussion/3530/how-do-i-handle-depreciation-and-amortization

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  • 12 days ago by vince