Put in use on the asset page:
- In use from — depreciation starts on this day.
- Paid from — for an asset that didn't come from a bill: the bank or cash account it was paid from, or owner's equity if it was contributed. (Bought on credit? Use Bought, which creates the vendor's bill.) An asset from a bill, or built over time, needs nothing here: its cost is already on the books.
- One main book (it posts to the ledger) and, if you keep them, tax,
IFRS or management books with their own figures. Each book has:
- Method — Straight line; Declining balance (a rate, switching to straight line when that charges more); Written-down value (a fixed yearly rate; left blank it is worked out from the life and salvage); Sum of years' digits; Manual schedule (enter each date and amount — they must add up to the cost less salvage).
- Useful life in years and months, Salvage value.
- Posts — Monthly, Quarterly or Yearly.
- Shift (straight line) — Single, Double (×1.5) or Triple (×2): an asset worked in two or three shifts depreciates faster and its life ends sooner.
- Put in use.
The first and last periods are charged for the days the asset is in use: an asset put in use on the 20th of a 30-day month is charged 11 days of that month.