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End-of-period procedures > Month-end procedures > Task 5: Record depreciation
note :  
To record depreciation
In the following example, we have a header account, Motor Vehicles - Company Vans numbered 1‑2300, and a detail account Company Vans - At Cost) numbered 1‑2310. We have created a new asset account called Company Vans - Accum Dep’n numbered 1‑2320. Notice that the header account shows the current book value of the van.
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Once you’ve determined your depreciation amounts, make journal entries to credit the new accumulated depreciation asset accounts (for example, the Company Vans - Accum Dep’n account) and debit the new depreciation expense account. The accumulated depreciation asset accounts will always have a negative balance to show a reduction in the value of the depreciable assets.
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