Depreciation Categories

[NO3281991]

I'm setting up a depreciation schedule for a consolidated entity and I'd like to break out my depreciation schedule by entity first and then by the usual categories (furniture and fixtures, improvements, etc.).  Is it possible to create subcategories in this way?

[George4Tacks]

Here is a nice list of all the methods https://proconnect.intuit.com/community/help-articles/help/depreciation-methods/00/3537 you might bookmark for reference.

There is a drop down for Category (Ctrl+T) and following that is where you can make up your own. Just a warning, be sure to type your special category exactly the same each time. In my example I used Dohickies this is different that just plain ol' Dohicky  or Dohickie. Each of those 3 would be their own category. 

These can be use to present a nice depreciation worksheet with totals for each of the categories. They could be Divisions in the company, or division in types of assets. 

[NO3281991]

Would  it be possible to make subcategories for my custom categories?  Like for instance, there's the consolidated full entity and say Dohickies is one of the entities that was consolidated (this company is made up of multiple LLCs that are taxed as one consolidated entity).  After creating Dohickies as a category, would I then be able to give it subcategories to split out Dohickies assets by leasehold improvements, buildings, etc.? 

[George4Tacks]

No. You could make the custom categories be the entities. Here I used Corp, LLC1 and LLC2 to identify those belonging to the master corporation and those related to the two LLCs

I do not believe you can do more than this with the program. An external spreadsheet could be made. 

[NO3281991]

Thanks for looking into it for me, I wanted to be sure that Larcerte didn't have a feature for it before building an excel spreadsheet.