Create depreciation for specific asset account

Disclaimer

All screenshots in the article were taken in the Dutch version of Yuki.

You can decide whether to record depreciation for a specific asset account for a specific period or for a whole year in one go. 

ATTENTION!

If you change one or more settings of an asset group or asset because you want to record depreciation in a different way, the Create journal entries button only appears on the screen when the sum of the new depreciation exceeds the balance of the depreciation already recorded.

This does not adjust or delete the 'old' depreciation already recorded. Yuki records the new depreciation as an additional journal entry.

Hover your mouse over the Financials icon in the navigation bar, then click on Assets and open the asset account by clicking on the name of the respective asset account. 

You can decide whether you wish to record depreciation for a specific period or all at once for an entire year.

For a month, quarter or half-year

Select a period to calculate depreciation expense for a period, e.g. October 2017. Then click on the Create journal entries button.

If depreciation has not yet occurred for that period, you can view the amount to be recorded in the now-opened screen under Proposed journal entries.

Then click on the Create button and the October 2017 depreciation will be recorded.

The depreciation is always recorded on the last day of the selected period.

ATTENTION!

One entry is made for assets on the general ledger account (see trial and balance sheet, 02350 Depreciation inventory and fixtures), so not per asset.

This way you run through period by period and create the depreciation entries.

For an entire year

If you want to record depreciation directly for a whole year, select the specific year and then click on the Create journal entries button. 

Under the proposed journal entries, view the amount to be recorded.

Then click on the Create button and the depreciation for the whole year will be recorded.

Depreciation is always recorded on the last day of the year. There are always 365 days depreciated (or pro rata) if the first depreciation date falls in the year. Leap days are not counted.