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m-veitchx2-gmail
Sep 6, 2024 11:48 AM UTC
Question

Fixed Assets

I created a fixed asset account for a camera and entered the purchase price when asked in the account setup, now the amount shows in the account, but I haven't recorded the expense of buying the camera.  How can I correct this so it doesn't duplicate the cost of the camera?

2 replies

MaximumBookkeeping
MaximumBookkeeping
Sep 6, 2024 1:56 PM UTC

If you have entered the purchase price on the balance sheet, you won't create an expense for it.

 

It is already accounted for.

MJ_R
Sep 6, 2024 1:57 PM UTC

Hi @m-veitchx2-gmail,

 

Thanks for reaching out in the Community! It's important that you're able to record the sale or purchases of fixed assets accurately.  I recommend speaking with an accounting professional for their expertise and best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.  

 

If you have any other questions, feel free to reach back out.  We're happy to help!

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