Record equipment once, then review its depreciation over the period it is used.

1. Start the fixed asset

Open Accounting → Fixed Assets → New Fixed Asset.

2. Enter the financial details

Review Asset Name, Asset Account, Depreciation Expense, Accumulated Depreciation, Currency, Cost, Salvage Value, and Useful Life (Months). Set the purchase and service dates.

The fixed-asset form separates account mapping, valuation and dates, and Payment Source.

3. Choose how it was paid for

Under Payment Source, choose the actual paying account, the opening-balance option, or An Existing Bill or Expense when that document already recorded the asset purchase.

4. Review depreciation

Save after your accountant reviews the setup. Set Post Depreciation Through and review the preview before using Post Depreciation or Post All. Financial setup becomes restricted after posting.