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Sep 6, 2024 9:52 AM UTC
Question

Moving fixed asset from bank transaction to advance accounting/fixed asset

Is there a way to moving fixed asset from bank transaction to advance accounting/fixed asset or link them if I add them manually or do need to add them to the advance accounting/fixed asset and than remove the entry from the bank transaction

1 reply

Sep 6, 2024 11:55 AM UTC

Hi SRahman, thanks for joining the Community 


You'll first have to create an asset account to track the current value and depreciation:

 

1. Go to the Accounting menu.
2. Select Chart of Accounts.
3. Click New.
4. Choose the asset Account Type and Detail Type on the dropdowns.
5. Name the account.
6. Select the Track depreciation of this asset checkbox.
7. When you're done, select Save and Close.

 

You can then record the purchase with a journal entry (+ New > Journal entry) with the bank account entered on one line, and the asset account entered on the second line. 

 

Once saved, you can match the transaction in your bank feed to the journal entry. 

 

I'd recommend working with your accountant when entering the journal. If you don't already have an accountant, you can find a QuickBooks certified advisor near you on our online directory. 

 

Thanks again for reaching Intuit support. We're just a post away if you have further questions or require additional assistance.