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R
Rtony123
October 28, 2024
Question

Lease Car Payments

  • October 28, 2024
  • 1 reply
  • 0 views

Hi! I realized I have entered in the lease payments for our truck for the past 2 years incorrectly. I have been added them as an expense the account that it was under was 'Fixed Asset' which I know is incorrect. 

 

What do I do in this case to fix my books? 

 

Do I just add the amount as a notes payable and then revert the last 2 years of the payments to that account. 

 

Notes: the payments were made towards the Fixed Asset account which has now been increasing which is not good. 

 

Please help!

1 reply

J
JamesM4
October 28, 2024

Hi there, 

 

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

 

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.

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