How to Automatically Depreciate Fixed Assets in COUNT

After you register a fixed asset in COUNT, depreciation is calculated and posted automatically based on the depreciation settings you define. This means you don’t need to create recurring journal entries manually.

This article builds on the fixed asset registration process described in How to Register Fixed Assets in COUNT and explains what happens once an asset is registered.

Before You Begin

Before depreciation can be posted automatically, the fixed asset must be registered with:

• A purchase cost
• A depreciation method
• A useful life
• A depreciation start date
• A residual value (if applicable)

If you haven’t registered your asset yet, see How to Register Fixed Assets in COUNT.

Step 1: Go to Fixed Assets

1. In the left-hand menu, click Accounting.
2. Select Fixed Assets.
3. Open the registered asset you want to review.

Step 2: Review the Depreciation Settings

In the asset record, confirm the following fields are correct:

• Purchase Price
• Depreciation Method
• Effective Life
• Book Value
• Depreciation Start Date

COUNT uses these settings to generate the depreciation schedule.

Step 3: Review the Depreciation Schedule

Open the asset to view the depreciation schedule, including:

• Depreciation amount for each period
• Accumulated depreciation
• Net book value

Step 4: Review the Posted Journal Entries

• Go to Accounting Tab -> Journal Entries
• In the Journal Type, choose Fixed Assets

COUNT automatically posts depreciation journals that:

• Debit Depreciation Expense
• Credit Accumulated Depreciation

These entries update your Profit & Loss and Balance Sheet automatically.

• If you register an asset and select a depreciation start date in a previous period, COUNT automatically calculates and posts depreciation for all missed periods.
• For example, if you register the asset in April but set the start date to January 1, COUNT will post depreciation for January through April.

Viewing the Audit Log

Each fixed asset includes an audit log showing:

• Who created or edited the asset
• What changes were made
• When the changes occurred

Updated on: 27/05/2026