Accumulated depreciation

Use the Import template from the Fixed Asset Depreciation page to create the opening balances for accumulated depreciation.

Navigate to ACCOUNTING > General Ledger > Fixed Assets.
Click on the Depreciation link.
On the Fixed Asset Depreciation page, select EXCEL in the upper-right corner to download the import template.

Step 1: Use “OPENING” in the Depreciation Number Column

When importing opening balance entries, include the text OPENING in the "Depreciation Number" column. This entry tells Accountability that these are opening balance entries, so no journal postings will be generated automatically.

Caution: You don’t want to create journal postings here because the cost of the fixed assets and their accumulated depreciation should already be included in your existing GL balances.

Step 2: Gather Asset IDs for Depreciation Entries

Each asset requires an Asset ID to link the correct depreciation amount. Follow these steps to prepare:

Export your asset list – Go to the "Fixed Assets List Export" to retrieve a complete list of Asset IDs.
Copy and paste these Asset IDs into your Accumulated Depreciation import file to ensure proper alignment.

Step 3: Assign the Correct Accounting Month

Your depreciation entries should be assigned to the accounting month before your go-live month.

For example, if your go-live month is 2017-05 (May 2017), set your depreciation journal’s accounting month to 2017-04 (April 2017).

Step 4: Include All Opening Depreciation Entries in a Single File

Prepare a single import file containing all the opening depreciation entries. Ensure each asset type has a unique Depreciation Number:

Use different numbers for each asset type (e.g., OPENING1 for ‘Furniture & Fittings’ and OPENING2 for ‘Computer Equipment’).
For instance:
- Furniture & Fittings: If there are 5 assets, use OPENING1 for all.
- Computer Equipment: If there are 3 assets, use OPENING2 for these entries.