Depreciation expense and accumulated depreciation continue to be correctly computed; however, they are still not reflected in the Profit and Loss Statement or the Balance Sheet. How can the depreciation expense and accumulated depreciation be properly reflected in the respective financial statements?
Hi @Erick_01
If you can see them in depreciation schedule table and want them to be posted in accounting ledger periodically, you have to enable fixed asset setting in Accounts Settings doctype.
Could you tell me how to make the settings for Fixed Assets?
Hi @Erick_01
Can you send us a screenshot of your accounts settings
You can find it at ERPNext Settings → Assets
Hope it helps
Hi @Erick_01
I can only guess (with the help of AI) that one of following could be happening: -
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How many companies do you have - the settings you have shown us are maybe for one company while the depreciation is for another company (also Finance/tax books vs statutory books but that is only in advanced/large companies)
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Check in Accounting → Payments → Journals Entry if any journals need to be submitted
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Check dates in your financial reports if they are matching with the financial year in depreciation schedule
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Check Organization → Company → Select Company → Accounts → Fixed Asset defaults have been set already otherwise it will not know where to post and may have silently failed
Hope it helps