The quick read
Key points
- Keep purchase documents with the asset record.
- Check for an existing purchase or opening entry.
- Review depreciation calculations with your preparer.
Gather the asset record
Keep the purchase document, relevant property and setup information together. Review the cost and dates you intend to use with your accountant. The software stores the record you enter; it does not determine the tax treatment of the purchase.
Review setup and the starting balance
Add the asset with the appropriate setup details and record its purchase or opening balance through the relevant workflow. Check existing entries first so an asset already represented in the books is not recorded a second time.
Review depreciation before booking
Open Add Depreciation and inspect the calculation, period and amounts before saving. Purchase activity and depreciation are separate entries. Confirm the method, useful life and treatment with your preparer; these calculations are not tax advice.
Share the schedule with context
Review asset cost, recorded depreciation and book value alongside the supporting documents. Explain missing records or pending corrections when sharing the schedule. Linked Rentari books may need these records entered separately because the sync scope does not include depreciation.
Before you finish
- Keep purchase documents with the asset record.
- Check for an existing purchase or opening entry.
- Review depreciation calculations with your preparer.
Keep your next step simple.
Use the product guide for the app workflow, or contact support with your question. Bookkeeping reports are not tax advice; review filing decisions with a qualified professional.