Automated manual journal for depreciation at X% rate
In Canada, depreciation rates for tax reporting purposes are determined on a per asset category basis. Depreciation is not linear. It would be nice to automate a journal entry based on that % and the remaining asset value on the BS. Example, for a 1000$ inial asset value that depreciate at 20% per year, Depreciation expense at year 1 is 200$, remaining asset value is 800$. At year 2, depreciation expense is 20% x 800$ = 160$, remaining asset value is 640$, And so on... Right now, the recurrin journals feature can only be set at a fixed depreciation value and not as a percentage of the remaining asset value.
![](https://secure.gravatar.com/avatar/0924ca7579c415d8d8b261f8fb93d97f?size=40&default=https%3A%2F%2Fassets.uvcdn.com%2Fpkg%2Fadmin%2Ficons%2Fuser_70-6bcf9e08938533adb9bac95c3e487cb2a6d4a32f890ca6fdc82e3072e0ea0368.png)