First step is to configure the depreciation settings, learn more.

Make sure to complete the following information to avoid error in the forms.

Setting -> General 

Setting  -> Contact Details

To Add ITR Form

In your Client window, just add "Forms" and choose "ITR Individual Tax Return". In this example, we will be working for ITR2018.

Create & Prefill

Select  "Year".

"Lodgement Date" is automatic date from ATO, but you can also manage to change to change it if necessary.

It will navigate you in this window, an option to "Import Financial" or just "Skip this Step". For this example, just click  "Skip this Step" or "Continue".

Financial image

Make sure to turn-on financial image "Business" to make this happen.

Go to "Forms" and click the four little squares and turn-on "Business", then "Save".

Click "Complete".

Depreciation date

Before you can add an Asset, you have to set "Depreciation Date"

Go to (client) "Settings", click "Depreciation"

Note : "Depreciation date" should be the First month of the Year. ie. 1 July 2017 - 30 June 2018.

Depreciation date is 1 July 2017

Go to (client) "Settings", click "Depreciation"

Adding Asset Group

You can "Add" Asset Group by clicking the blue font.

or the "Add" button located at the upper right.

In this example, we will be adding Low Value Pool related to Business with no opening Balance from the previous year.

Make sure to fill the details correctly, you can choose appropriately via the drop-down options for every box. (exactly as you see below).

Name: (you can name your group whatever you like) Category: Business Type: Low Value Pool Income Type: "Non-primary Income" or "Primary income" (whichever applicable) Opening Balance date: ( this example is for  ITR2018)

Adding Asset Group

Go to "Tools"

or click "+New Asset" located via upper right corner.

Example: Marie bought a printer for $600 in 2017-18. His employer did not pay or reimburse any of the cost of the Scanner. He decided to allocate it to a low-value pool.

Summary Report of the Asset

To Check the Report, go to "Reports" select "All"

Be mindful of setting the dates in "Start date" and "End date". In this case, we are working for ITR2018.

First Year: 2017/2018 - ACTUAL

In the First Year, the Opening balance" is Zero and the value of "F" is available at 18.75%, $93.75

E (multiply) 18.75% = F

With a closing balance of $406.25

Second Year : 2018/2019- ACTUAL

In order to see the figure for the next year (2019) Process again DepreciateTo.

Click "Tools" and "Depreciation", select the blue font "Depreciation page"

"DepreciateTo" should be change to 30 June 2019.

Go to "Reports" and   select "All"

Be mindful of setting the dates in "Start date" and "End date". We will now be looking for 2018/2019 Year as the Second Year of the Low Value Pool.

Second Year, "Opening Pool Balance" for Estimated and Actual is now $406.25, the value of "D" is now available at 37.50%,  $152.34

Opening Balance (multiply) 37.50% = D

With closing pool balance of $253.91

Viewing ITR Report

Go to "Forms"

Select your ITR Form

Click the "Business" tab, and "Net income" sub-tab, scroll over to "Depreciation".

Notice that Depreciation figure is same or equal with the amount loss for the current year (2018).

Click "Validate" to find any error in your form.

If the form is ready click 'Complete".

Related article:
Form Workflow Sequence and E-signature
Deleting/Removing Asset
Depreciation - Low Value Pool (LVP) on Rental