Intangible Assets

Dears,

Any suggestions how to handle Intangible asset Amortization without having an accumulated amortization account?

I tried putting the Asset cost and accumulated depreciation accounts the same but it didn't work after the 1st month because the value of the asset cost changed, for example:

Asset Cost 12,000

Life time : 12

First month depreciation = 12000/12= 1000

Asset Cost = 12000 - 1000 = 11000

Second Month Depreciation = 11000/12= 916.667

Therefore, i cannot use this method. Also the fixed assets module would not let me leave the accumulated depreciation account blank unless it's for 00 (land)

Notice that it is highly preferred to not use an accumulated amortization account. Therefore, the journal entry should be as follows: