Under Accounting, open Fixed Assets and add what the business keeps for more than a year. Choosing an item from Asset Tracker brings in its purchase date and price. Choose straight line over a number of years, or declining balance at a yearly rate.
When a month ends, Accounting enters its depreciation for every asset, and each asset shows its value now and its depreciation by year. Dispose of an asset when it is sold, scrapped or lost, and what it was still worth goes to Gain or loss on disposals. An expense category can now post to Equipment, for purchases made through Expenses.