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From expenses to depreciation

GM
25/08/2023
Question

Still unsure about what depreciations actually mean, I entered a large expense as an expense a good month back. Is it possible to change that expense to depreciation without messing up the accounts?

Yes, no problem.

A month back, so sometime in July? Whether you are subject to VAT or exempted from VAT, you have not yet submitted any vAT declarations that include that expense.

That is important, but it will not be the case. Then you can still adjust it perfectly, no problem.

Gr Shaun

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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