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Documentation -> Accounting/Bookkeeping -> Automated Book Depreciation -> Automated Book Depreciation Overview
What is Automated Book Depreciation?
Automated Book Depreciation automates book depreciation for any set of books where it is enabled. Book Depreciation is a way of keeping up with asset depreciation according to accounting principles and is not the same thing as Tax Depreciation, which is based on IRS rules instead. flowlog calculates and reports depreciation using the cost principle and the matching priciple. flowlog's Automated Book Depreciation uses the Straight Line depreciation method.
Who is this feature intended for?
Automated Book Depreciation is intended for any member who wants to keep up with their depreciable asset depreciation using Book Depreciation, but who doesn't want to do it all manually. Some members may not need Tax Depreciation and simply wish to keep up with the depreciating value of their depreciable assets. Some may have a CPA who handles their Tax depreciation separately. Some CPAs may handle the tax depreciation and then provide depreciation related entries to their clients. flowlog simply provides this convenience feature for members who might benefit from it.