Car rental Company: Do i post all the cars as products and services or in fixed Assets. When i want to raise a bill, I dont see the cars if they are in products and servi

Hello there, karanspoint-gmai.

Let me share a few details on how to record the cars within QuickBooks Online.

We'll have to record the cars both as assets and for service item purposes. We record it as fixed assets for investment and service items since it's for rental. To guide you further, let me provide you with the steps on how to do it.

Set up Fixed Assets account for cars:

1. Go to Accounting on the left panel.
2. With the Chart of Accounts tab, click the New button at the upper-right corner.
3. Select Fixed Assets in the Account Type.
4. In the Detail Type, choose an option that closely describes the car rental.
5. Name the account. Then, Save and Close.

Here's the sample screenshot:

Record the cars as service items:

1. Go to Sales on the left panel and select the Product and Services tab.
2. Click the New button at the upper-right corner.
3. Select Service.
4. Enter the name of the item and other required details.
5. Then, hit Save and Close.

Below is sample screenshot for additional reference:

The service item we've created is the one we'll use to track as sales. Also, I would recommend reaching out to your accountant to know more ways on how to handle your book for specific for car rental services. They are the ones who can help and advise what account to use for it and making sure everything is recorded properly.

You may want to check this article to learn about updating an account for item in QBO: Change the account for a product/service item.

Please don't hesitate to post again if you have any other concerns about QuickBooks. I'm around to assist you further. Take care and have a good one!