Overview

Depreciation can be manually entered into Simple Fund 360 for all assets. This includes Real Estate properties and Separate Depreciable Assets.

• Capital Works is not recorded using this method. Instead, it can be manually recorded by inputting a Tax Adjustment. See the Capital Allowance / Capital Works Deduction article for more details.

Instructions

Manual Depreciation Journals are recorded through the Transaction List. 

From the Main Toolbar, go to Accounting.
Select Transaction list
Select New Transaction.
Select Depreciation.

1. Input the Date of the transaction and a Reference number. You can include a description of the transaction in the Description box.
   
   
2. Under the Account heading, from the Select an account box, search for the Depreciation account by typing 33400/INVESTCODE.
   
   
3. Input the depreciation amount under the Debit column.
   
   

4. Next, search for the Investment Account from the Select an account box and enter the depreciation amount under the Credit column.

   Note

   To process depreciation, ensure the Units field for investments is left blank.
   
   

5. After you have entered all information for the transaction, select Post to add the transaction and return to the Transaction List screen or select Post & Add Another to add the transaction to the Transaction List, but remain on the Depreciation screen.

How to display and delete depreciation transactions.

To show depreciation transactions in the transaction list, ensure the Depreciation check box is selected.

To view Depreciation transactions only, untick the other checkboxes.

To delete the depreciation transaction, tick the checkbox on the left and select the Delete icon.