How to add Depreciation in QuickBooks

Are you ready to start tracking depreciation inside QuickBooks?

Let me show you how! 🙌

In this video, you will learn how to enter Depreciation & Accumulated Depreciation into QuickBooks.

Steps to Tracking Depreciation inside QuickBooks:

➡️ Creating Main & Sub Accounts

**Recommended: Having a main account & creating sub-account

Go up to “Lists”
“Chart of Accounts”
Go down to “Account”
“New”
Choose “Fixed Asset” (Major Purchases)
Click “Continue”
“Account Name” (Accumulated Depreciation)
Checkmark “Sub-account of” **If you are creating a subaccount
Click “Save & Close”
**Create Accumulated Depreciation as a Sub Account of the Asset.

** Create Depreciation Expense (Expense) account

➡️ General Journal

Go up to “Company”
“Make General Journal Entries…”
“Assigning numbers to Journal Entries…”
Click “OK”
Select the “Date”
Choose “Account”
Enter “Debit” amount
“Memo”
2nd Line “Account”
Enter “Credit” amount
“Memo”
Click “Save & Close”
Click “OK”


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Timestamps:

0:00 - Intro
0:17 - How to add Depreciation in QuickBooks
2:01 - Make Journal Entries (Depreciation)
3:41 - Final Thoughts


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