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O
oscortega
February 26, 2024
Question

Are products purchased, used and displayed in a showroom considered a fixed asset?

  • February 26, 2024
  • 1 reply
  • 0 views

In our showroom we have several working Home Audio & Video products such as TV's, Amplifiers, Speakers, lights, shades, etc.. These products are displayed/offered to demonstrate how they would function in a clients home.  Would said products be categorized as fixed Assets? And are they written off yearly as deprecating?

1 reply

J
JamesM4
February 26, 2024

Hello oscortega,

 

Welcome to the Community. QuickBooks is a flexible program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

Recording your transactions the right way is essential for ensuring your books remain accurate. That said, I recommend consulting an accounting specialist for expert advice. This ensures your entries are recorded in a way that allows for you to navigate the program with peace of mind. You can get in touch with an accounting professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. 

 

Let me know if this info helps. I'm here to steer you in the right direction.

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