Office Equipment Depreciation

[brentbond]

I am running version 11.1. On my Balance Sheet I have a Fixed Assets (fund 1500) and an Office Equipment (fund 1501 with $5,000) under it. What do I need to create to show an annual depreciation (say 10% for example) against it? Help with the associated CR and DB to show that annual depreciation entry to it would also be helpful

Thanks in advance.

[JohnDMeyers]

To add a depreciation entry of $500:
CR 01-1580-000 Depreciation Reserve $500 (which will appear as a negative number, always)
DB 01-5940-000 Depreciation Expense $500

To "retire" an item worth $800 that has been fully depreciated that is included in Office Equipment, for example:
CR 01-1501-000 Office Equipment $800
DB 01-1580-000 Depreciation Reserve $800

Obviously, you won't retire an item until your depreciation reserve is at least equal to the value of that item.