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Depreciation Expense in Quickbooks:- While depreciation does not require cash, you should still account for how rapidly you use your asset in QuickBooks. You can manually enter depreciation for any asset used by your company in QuickBooks. Your company's Chart of Accounts is used to depreciate assets. Because these assets will be depreciated manually, you will need to revisit the asset in the Chart of Accounts each year to change the depreciation amount.