Equipment & Real Estate Values

How does Goldenseal calculate equipment and real estate values?

Goldenseal automatically calculates the Balance Sheet value of each Equipment account and Real Estate account. You can see the present value in the Balance Sheet Value field in each account record (it's in the calculated area at lower right).

To calculate the current balance, Goldenseal uses the starting balance, date put in service, Depreciation Method, business percentage and salvage value.

HINT-- If you don't enter a Depreciation Method, Goldenseal uses the Starting Value as the present value.

Starting Value

Enter the "beginning" value of your equipment or real estate into the Starting Value field. Usually the Starting Value is the amount you paid for an item.

Date Put in Service

Enter the date at which depreciation starts. Usually this is the date when you purchased this asset.

Depreciation MethodS

Enter the Depreciation Method that you'll use to calculate depreciation on this item. The Basic Depreciation calculates the value in the Balance Sheet, and the Tax Depreciation calculates the value for tax reports.

Each Depreciation Method includes options for different calculation methods such as ACRS, MACRS, Declining Balance and Straight Line. You'll also set the depreciation lifetime and the handling of first and last year depreciation.

Click here for more about Depreciation Methods in the reference manual.

Business Use

If you use this item entirely for business, enter 100%. Otherwise enter the percentage of business use.

Salvage Value

If this item has a salvage value for depreciation purposes, enter it into the Salvage Value field.

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