Asset management issue

Question

I created a asset and applied all the accounts properly but in balance sheet its accomulated depreciation is showing instead of book value. I am attaching the screenshots. Need guidance from seniors! Thank you so much.
Image [1]
Applied all the necassary accounts you can see in the following screenshot
Image [2]

[1] data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAv4AAACBCAIAAAA37CnTAAAd/klEQVR4Ae2dzU4cS5aA+62QvLF4BB4A6QqveYNRjSV0F7NoNrObJRK2NCy6F6PZtDQbhOlFqxeWLNlAkRRFAcZwMdcC5OtGOYqfE3EiK7OggC

Navjot Kaur Randhawa · Answer

Your balance sheet is showing *accumulated depreciation instead of book value* due to misconfigured journal entries or report settings. Try these fixes:

*Check Journal Entries*
*Debit:* Depreciation Expense (600012)
*Credit:* Accumulated Depreciation (101002)
Ensure the *Fixed Asset Account (101001)* is not directly credited.

*Review Balance Sheet Settings*
Ensure it displays *Net Book Value (Asset Cost - Accumulated Depreciation)* instead of just accumulated depreciation.

*Test with Manual J

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