Account — Fixed assets - depreciation

In Manager, the Fixed assets depreciation account is a built-in account used to record depreciation expenses for your fixed assets. While this account is essential for tracking depreciation, you may want to rename it to align with your accounting practices or preferences.

This guide explains how to rename the Fixed assets depreciation account and adjust its settings within your chart of accounts.

Accessing the Account Settings

To rename the Fixed assets depreciation account:

1. Go to the Settings tab.
2. Click on Chart of Accounts.
3. Locate the Fixed assets depreciation account in the list.
4. Click the Edit button next to the account.

Understanding the Account Fields

When editing the account, you'll see the following fields:

Name

• Description: The name of the account as it appears in your financial statements.
• Default: Fixed assets depreciation.
• Action: Enter the new name you wish to assign to this account.

Code

• Description: An optional field to assign a code to the account. Useful for sorting or grouping accounts.
• Action: Enter a code if desired.

Group

• Description: Specifies under which group on the Profit and Loss Statement this account will be presented.
• Action: Select the appropriate group to categorize this account correctly.

Saving Changes

After making your desired changes:

• Click the Update button to save the changes to the account.

Note: The Fixed assets depreciation account cannot be deleted. It is automatically added to your chart of accounts when you have at least one depreciation entry.

Additional Resources

For more information on managing depreciation entries, refer to the guide on Depreciation Entries.