Since depreciation is not a cash transaction, it is entered in the General Journal. Entering transactions in a General Journal is discussed in the Financial Navigator Training Guide, volume II, Lesson 31.There are two important things to remember about using a General Journal.
- Generally, use a General Journal for non-cash transactions only. Transactions entered in a General Journal will not appear on your cash-flow reports even if they affect cash accounts (unless the General Journal's format type is set to "bank accounts"). For information on this, please refer to FN help for the topic "Using a Cash General Journal."
- Transactions entered in a General Journal will not get the prompts “Acquired an Asset?” or “Sold Investment?” and thus will not affect Cost Basis of asset or liability accounts.
Check out the 2 payees "Depreciation Calculation" in the FN Sample Data for some helpful examples on how to set up an automatic entry to calculate depreciation.
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Renée Trudeau
Financial Navigator Service Provider
[This message has been edited by Renee (edited 01-16-2001).]
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posted 01-10-2001 09:37 AM
