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June 22, 2023
Question

Need to add a piece of equipment

  • June 22, 2023
  • 1 reply
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Need to add a asset

1 reply

June 22, 2023

 Adding equipment (asset) in QuickBooks Online is easy, whyteapple. I'll be glad to walk you through how to accomplish the tasks.

 

You need to set up an asset account to track your company's assets' current value and depreciation (i.e., land, vehicles, buildings, machinery, and equipment). Here's how:

 

  1. From the Accounting menu, select Chart of Accounts, then click New.
  2. From the Account Type drop-down menu, choose Fixed Assets.
  3. Select the option that closely describes the asset from the Detail Type drop-down menu.
  4. Name the account, then select the Track depreciation of this asset checkbox.
  5. Enter the current value of your asset in the Original cost field and the as-of-date. If recording the loan, leave this blank.
  6. Tap Save and close.

 

You can find additional details in this article: Set up an asset account in QuickBooks Online.

 

I'm also sharing a link managing your assets and tracking depreciation in QBO: Depreciate assets in QuickBooks Online.

 

Let me know in the comments if you have other concerns about recording assets in QBO. I'm always ready to help.