Equipment Depreciation

SOLVED

Hello me again...So I am reading the book for equipment and seeing how our company has equipment set up and wondering about depreciation.  My boss would love to do this on a monthly basis so we can get a true cost to our large equipment but it seems as if we need the fixed asset module (we do not have that).  I see Depreciation is a standard cost code and I know in the but is there a way to post our individual depreciation for each vehicle on a monthly basis (he does this on a yearly basis but that doesn't give us a true cost)?  Can this be automatic ( I see there is automatic entries in the GL side but not equipment side) and does the equipment module talk to the GL so it shows on reports?

Thank you

Colleen

Parents Reply Children
  • +1 in reply to ColleenGA
    verified answer

    Hi Colleen, Yes in a way.There is no task in EQ that allows you to set up a standing journal as there is in GL. But there is a function in EQ called Import Entries. So your best approach is to set up a spreadsheet and have all of your EQ items listed with a depreciation amount for each. The spreadsheet can be exported as a csv file each month and then imported into EQ. You can do this for all of your Expenses such as Leasing, Fuel, Repairs etc. to build up a better Profit Statement story for each item.

  • 0 in reply to ieXcel with Sage 300 CRE

    Thank you.  I was looking at doing this but I don't have the version of Excel that has the add-in inquirery that seens to be needed.  Can you point me in the right direction on how to do this without that or is it possible?  Also will doing this apply it directly to the equipment?

    Thank you for your help.