I have recorded depreciable assets in my tax records, but I cannot see the depreciation I can claim in my income tax return in the tax records report — where can I find it?
Depreciation is not displayed in the tax records report. It must be entered manually in the income tax return.
Regular annual depreciation is not reflected in the overall tax records report or the cash journal, meaning depreciation is not posted to expenses and therefore does not automatically reduce the operating result. Depreciation is maintained entirely separately from the cash journal and other financial reports, and must always be deducted manually at the end of the year.