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NewToBookkeeping2021
March 19, 2021
Question

How do i create a fixed asset for a forklift?

  • March 19, 2021
  • 1 reply
  • 0 views

The company that I work for sells hot tubs and swim spas so we bought a forklift to move our tubs around our shop - and for easier loading & unloading as we do our own deliveries & pick-ups, occasionally.

I need to know how to create a fixed asset that accounts for depreciation, as well as how to create the expense transaction properly.

 

I'm not incredibly new to QBO, but we had hired a bookkeeper/accountant to train me on it, late last February, so I've only had a few days of training thanks to COVID hitting less than month after we had opened.

So if anyone can also recommend a reasonably affordable accountant for me, that would be really amazing & greatly appreciated!

1 reply

J
JamesM4
March 20, 2021

Hi there, 

 

Making sure you're recording your transactions the right way is a good exercise for preventing errors in your books. I'd be happy to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the expense transaction. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here. In the meantime, I encourage you to check out this helpful article with more info on how to: Set up an asset account in QuickBooks Online.

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to help.

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