There may be an assortment of reasons why you don't want to depreciate an asset, E.g.

  • You only want to depreciate it for tax and NOT accounts (or vice-versa)
  • There are rules in your jurisdiction that you cannot apply depreciation for a particular type of asset
  • For land assets

You still want the asset to appear in your fixed asset register but not affect journals.

The solution here is quite simple - simply choose "No Depreciation" as the Method when adding your asset to AssetAccountant for either Tax Depreciation, Accounts Depreciation, or both.

You also have the option to apply "Doesn't Exist".

This means the asset will not appear at all in either your Tax Register and/or your Accounts Register.

If you do not require your assets to be depreciated at all for tax across your whole register or entity, follow this procedure:

If for example you are a charity and do not need tax calculations at all, simply import all of your assets and apply the depreciation method of "doesn't exist" for tax.

You would also apply the "doesn't exist" method for tax in all of your asset groups.