Depreciation: what your equipment loses each year
A minibus or a projector is worth less every year. Your accounts should say so.
- Open Professional accounting, then Depreciation.
- Beside each account, write the rate a year, for example 20, and choose how it loses value. Tap Save the rates.
- When the year is over, tap Charge depreciation for 2025. Azonation writes the entry for you.
An example: a minibus bought for £10,000 at 20% a year loses £2,000 each year, for five years.
The same amount every year takes the rate of what it cost. Less every year takes the rate of what is still left. Ask your accountant which one you use.
Charge depreciation before you close the year. You can undo the last charge while its year is open.
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