User Support Forum

We have never depreciated assets over the past 20+ years. Therefore, our balance sheet had a lot of valuation that should have been fully depreciated. However, we recently had an outside audit. He basically took all of the older assets, applied a useful life to each, and produced a spreadsheet calc...

I 'inherited' an accounting process whereby all of the capital assets were expensed--going back over 40 years. :wall: As you can imagine, the balance sheet looks rather anemic for our $1.3 million/year budget. Is there a way to establish the remaining old (and newer) capital assets on the balance sh...