Asset not showing in the balance sheet

Hi there, @SudhaT.

I'd be glad to help you record your loan for an asset in QuickBooks Online. Your loan payment for a machine wasn't reflected in your asset account because of the transaction type. Instead, you'll need to create a journal entry for your loan to reflect in your assets. You'll also need to consult with your accountant about how to account for these variables when dealing with journal entries.

Please refer to this article for the steps to record your loan for an asset in QuickBooks Online.

To avoid double posting in your balance sheet, I'd recommend removing those transactions you paid for the loan. Then, you'll need to create multiple journal entries for each time you have paid partially. Make sure that the debit and credit should have the same value and remember to change the date to the correct one. Note that when doing these steps, you'll need to consult your CPA/Tax accountant.

Here's an example:

Furthermore, I'd like to provide you with this article for future reference:

Run a balance sheet by class or location in QuickBooks Online.

Please let me know if you have further questions about recording a loan for an asset in QuickBooks Online. I'd be glad to help. Have a great day!

@SudhaT 

Yikes.  Disregard @Mark_AG 's response.  It's wrong on many levels.  As I'm sure you're aware, you don't want to remove any transactions.  

If the asset is not showing on your balance sheet it was most likely recorded as an expense, not an asset.  Is that the case?  If it was expensed, then there is no reason to add it at this point since it is considered to be fully depreciated so it will not impact any valuation or future gain on the sale/disposal of the asset.  If depreciation was taken on it, then you need to contact the company's CPA.