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COA - Individual Fixed Asset Class with Respective Accumulated Depreciation


#1

Hi everyone, I have gone through quite a number of COA (attached some snapshots below) and I found that the common practice is to have “Accumulated Depreciation” account for each fixed asset class. While I can add accounts in my COA similar to the samples, how can I set the accumulated
depreciation for each asset in the Asset form?

Asset form screenshot (can’t insert account):

Sample 1:

Sample 2:

Sample 3:


#2

In your chart of accounts, you could have something like below: Note, select account type (fixed asset or accumulated depr.) for each account.

Then create, several asset categories as below.

Then for each asset category, set each as below

Then, for each asset, select the respective asset category.