You can do it either way, you do not lose any functionality, but what you lose is the ability to easily see the book value of the fixed asset, the parent account which should not be posted to, will sum the cost and depreciation (algebraic sum) and show the current book value

if you do it with one parent account for all depreciation you have to look up the fixed asset cost, scroll and subtract the depreciation amount for that asset mentally or on a calculator to find book value.