Entering Equipment & Depreciation
I have done alot of googling with no answers. We just purchased some equipment - a blower & mower and I am not sure how to enter them into MYOB - Do I enter as a Equipment purchase then do someth...
Forum Discussion
Hi nuleafmow
Welcome to the Community Forum!
In situations like this, we recommend reaching out to an accountant for accurate guidance. However, to give you an idea, you can record the purchase by creating an asset account. For managing depreciation, set up an expense account and periodically create a journal entry to debit this expense account and credit accumulated depreciation under the fixed asset account.
Regards,
Earl
