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.