Recording a Capital Cost Allowance

AgExpert Analyst no longer posts Capital Cost Allowance (CCA) automatically. If you want your depreciation amounts to appear in your financial statements, you must enter it manually.

Note: Your CCA schedule must be properly set up in order for this process to work. Ensure that your opening balance and CCA rates are correct.

1. Select Reports Console from the Reports menu.
2. Select Tax Information from the menu on the left. 
3. Select CCA/Depreciation.
4. Select Standard Classes and the Maximum depreciation rate and click View in Grid to view the depreciation report. Do the same for Class 10.1.

Note: Your depreciation amounts are listed in column 9. You can either print the report for your reference or write down the class number and amount of depreciation being claimed for the year.

Once you have the figures you need, close the reports console.  

1. Select General Journal from the Transactions menu.
2. You can now make the general journal entry for depreciation. Set up the entry as follows:

Last updated on February 10, 2014 by FCC AgExpert