Ready to learn how to enter depreciation into QuickBooks?

Did you just get your depreciation schedule from your tax professional?

In this video, I will share what depreciation is, and how to enter it into QuickBooks both for Desktop and Online users.

Timestamps:

0:00 – Intro
0:37 – Take notes
0:44 – What is Depreciation?
1:14 – Assets
1:48 – Rules of Depreciation.
2:14 – GAAP
2:26 – IRS Website
2:39 – Three main inputs are required to calculate depreciation.
3:01 – Three methods for depreciation.
3:15 – Straight-Line Method.
4:07 – What vehicles qualify for the full section 179 deduction?
4:21 – What is Accumulated Depreciation?
4:51 – Capitalized Asset /Depreciation / Accumulated Depreciation
5:13 – Start with adding your Assets.
5:25 – Add Accounts to enter Depreciation.
6:04 – Set up Depreciation Accounts in QuickBooks Desktop.
7:58 – Sample Chart of Accounts in QuickBooks Online.
11:32 – Journal Entry in QuickBooks Desktop.
12:47 – Checking Reports in QuickBooks Desktop.
14:39 – Setup Depreciation Accounts in QuickBooks Online.
17:24 – Journal Entry in QuickBooks Online.
19:07 – Checking Reports in QuickBooks Online.
21:10 – Final Thoughts

Join us in our next workshop to learn how to design QuickBooks for your specific business. ➡️ https://CandusKampfer.com/workshop​

Receive our QB tips straight to your inbox each week visit. ➡️ https://CandusKampfer.com/tips​

I’d love to hear if this inspired an “aha moment” and if you are ready to start entering in your depreciation.

Have an amazing day!