The default depreciation nominal codes are as follows. If you already have these nominal codes, follow the Post depreciation automatically section.

TIP: You can see your nominal codes in Nominal codes.

Nominal Code	Nominal name	Report	Report section
0021	Plant/Machinery Depreciation	Balance Sheet	Fixed Assets
0031	Office Equipment Depreciation	Balance Sheet	Fixed Assets
0041	Furniture/Fixture Depreciation	Balance Sheet	Fixed Assets
0051	Motor Vehicles Depreciation	Balance Sheet	Fixed Assets
8001	Plant/Machinery Depreciation	Profit and Loss	Overheads
8002	Furniture/Fitting Depreciation	Profit and Loss	Overheads
8003	Vehicle Depreciation	Profit and Loss	Overheads
8004	Office Equipment Depreciation	Profit and Loss	Overheads

1. Go to Nominal codes then select New.
2. Complete the following information:
   
   

   N/C	Enter the nominal code number that you want to create, for example, 8005.
   Name	Enter the name of the account, for example, Plant/Machinery Depreciation.

3. Click Save.
4. If required, to create further nominal codes repeat steps 1 to 3.
5. Click Close.

You've now created the new nominal codes. Check your chart of accounts to ensure the new nominal codes are in the correct Profit & Loss and Balance Sheet sections.

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Post depreciation automatically

Once you've created your fixed asset records in the software, post depreciation automatically during your Month end.

1. Create your fixed asset records, including the depreciation method you want to use.  
2. Go to Tools, select Period End then Month End.
3. Run check data then take a backup of your data.  
4. Enter the relevant month end date.
5. To include depreciation in your month end postings, select the Include depreciation of fixed assets checkbox.
6. Select any other required options then click Run Month End.
7. Click Yes then OK.

This posts the depreciation amounts as journal entries and updates your fixed asset records.

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