Fixed assets and depreciation
Capitalize equipment and other long-lived purchases and record depreciation over their useful life.
- Plans
- Basic fixed-asset recording: Core and above. Asset register, depreciation schedules, and disposals: Advanced and above
- Availability
- Available
- For
- Accountants, Bookkeepers
- In KontoCore
Accounting → Fixed assets
In plain English
A truck you’ll use for years isn’t a one-month expense. You record it as something you own, then spread its cost over the years you use it.
What this does
Record the purchase to a fixed-asset account. On Advanced, the asset register calculates depreciation on a schedule and posts it each period, and handles disposals.
What happens in your books
Monthly straight-line depreciation on $36,000 equipment over 5 years:
| Account | Debit | Credit |
|---|---|---|
| Depreciation Expense | 600.00 | |
| Accumulated Depreciation (contra-asset) | 600.00 |
Book vs tax depreciation
KontoCore is accounting software. It does not provide personalized tax or legal advice; consult a qualified professional.
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Accounting fundamentals in KontoCoreHow double-entry, the general ledger, debits and credits, and accrual versus cash basis work — in plain English.Journal entriesWhen and how to record a manual journal entry, including adjusting entries and reversals.ReportsWhat the profit and loss, balance sheet, cash flow, and aging reports tell you — and how to drill into source records.
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Last reviewed September 25, 2026