Creating an Asset & Posting Depreciation

From Purchase to Depreciation Schedule

Creating an Asset from a Vendor Bill

1. When entering the vendor bill for the purchase, post the line to an Asset Account rather than an expense account.
2. Quickenerp offers to Create Asset directly from that bill line, pre-filling the purchase value and vendor.
3. Alternatively, go to Accounting > Accounting > Assets → Create manually.

Asset Form Fields

• Asset Profile – pulls in the default accounts and method; override any field if this specific asset is an exception.
• Purchase Value and Salvage Value.
• Date Start – when depreciation begins (usually the purchase or in-service date).
• Number of Years / Period Length – the depreciation term.

Confirming & Depreciating

1. Click Compute to generate the full depreciation schedule (one line per period) — review it before confirming.
2. Click Confirm. The asset moves to Running.
3. Each period, post that period's depreciation line — either individually or via the batch action covered in the next article.
4. Posting debits the Expense account and credits the accumulated Depreciation account, reducing the asset's book value (Value Residual) each time.

Disposing of an Asset

When an asset is sold, scrapped, or retired before or at the end of its schedule, use the asset's Remove action: it posts a final entry writing off any remaining book value (and any sale proceeds/gain-or-loss if sold), and moves the asset to Removed.

Transferring an Asset

If an asset moves between departments, cost centers, or companies, use the asset transfer action rather than editing the original record directly — this preserves the depreciation history up to the transfer date instead of rewriting it.