Journal grouping strategy examples
This setting can be found in the Admin - Set up your accounting rules area:
Group by asset type: These journals are grouped by asset type, yet are comprised of journal lines for each asset for Accumulated Depreciation and Depreciation.
This is the recommended strategy when using Categories to segment your assets and corresponding journals.
Group by asset type (summarised): by default, this is what all organisations are initially set to.
It’s a very clean strategy with simply having a total summary of Depreciation and Accumulated Depreciation journal lines for each Asset Type.
In addition, the Asset Lines tab in the report will list the all the individual asset's depreciation that make up the total for the journal.
Do not group: this is the most verbose strategy as individual journals are created for each asset* instead of being grouped by Asset Type as the prior two strategies.
This is is due to limits to the number of journals that can be created per day for both the Xero and QuickBooks Online platforms.