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Account — Fixed assets, accumulated depreciation

The Fixed assets, accumulated depreciation account is a built-in account in Manager.io. It is automatically added to your Chart of Accounts when you create at least one fixed asset in your business records. This guide explains how to rename and configure this account.

Accessing the Account

  1. Navigate to Settings in the main menu.
  2. Click on Chart of Accounts.
  3. Find the Fixed assets, accumulated depreciation account.
  4. Click the Edit button next to this account.

Available Fields

When editing, the form contains these fields:

Name

  • Purpose: This is the name of the account as it appears in your Chart of Accounts and reports.
  • Default: Fixed assets, accumulated depreciation
  • Customization: You may rename this account as needed to better suit your organization’s terminology.

Code

  • Purpose: This is an optional account code used for reference or ordering accounts.
  • Customization: You may enter a numeric or alphanumeric code as desired.

Group

  • Purpose: Select the group under which this account appears on your Balance Sheet.
  • Customization: Assign the account to the proper section for your reporting structure.

Saving Your Changes

  • Click the Update button at the bottom of the form to save any changes you have made.

Important Notes

  • This account cannot be deleted.
  • It is created automatically after your first fixed asset is added.
  • For additional details on managing fixed assets, refer to the Fixed Assets guide.

By following these steps, you can ensure that your Fixed assets, accumulated depreciation account is clearly named and properly positioned in your Chart of Accounts in Manager.io.