I agree with chirpfarm...

You don't need to (and most people really shouldn't!) try to mess with depreciation in cash-basis farm accounting records. Recording depreciation is only appropriate for book value balance sheets, and most of us need to produce market value balance sheets for lenders, etc.

I mostly want a way to identify individual assets so I can get a list of purchases/sales/trades at year's end for tax purposes. I can do that in QB desktop by setting up an Item for each asset, but because Inventory Items point to an asset account, that also lets me update the market value of machinery, land, a group of cows, etc. I also set up Items for broad categories of minor inventories like purchased feed, supplies, etc., and add them up in a spreadsheet, then post a single inventory adjustment for the corresponding Item in QB...makes it a lot easier to update asset values for printing a balance sheet.

This is in QB desktop mind you; I don't think it's as easy in QB Online because the inventory system works differently there.