Re: [SQL-Ledger-users] Yet Another Chart of Accounts Question

[D S. <dsi...@sq...>]

The chart is a sample chart only and should be changed to your preferences
and terminology you use in your country.

I have not allowed for such things as yearend procedures or prorated half
year rule calculations for depreciable assets because every country has
their own rules. Use a calculator and add a GL entry. 


Dieter Simader    http://www.sql-ledger.org   (780) 472-8161
DWS Systems Inc.     Accounting Software       Fax: 478-5281
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On Wed, 20 Dec 2000, Wild Apache Support wrote:

> In the chart of accounts, account numbers 1825, 1845 and 5660 are
> related to amortization.  However, amortization only applies to
> Intangible Assets (i.e., rights, privileges, competitve advantages,
> etc.).  Furniture, equipment, vehicles are considered long-term tangible
> assets and are usually depreciated over the life of the asset.
> 
> To support this, you need a depreciation expense account and an
> accumulated depreciation account for each category of long-term tangible
> asset.  Then the accumulated depreciation accounts are setup as contra
> accounts.
> 
> Then the amount recorded in the depreciation expense account for that
> particular asset is reported in the the Income Statement.  In the
> balance sheet, you would have an entry that shows the purchase price for
> the tangible asset minus the accumulated depreciation for the asset.
> 
> Just some thoughts!
> 
> Murrah Boswell
> 
>