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wynnart
March 23, 2025
Question

In QBSE how do I set up a depreciable asset (computer) with installment payments?

  • March 23, 2025
  • 1 reply
  • 0 views

I bought an iPad for the business using an Apple Card with installment payments. How do I set this up in QBSE? Do I add the receipt as an asset and then do a transfer of the total amount paid to date in installment payments? Would I categorize the installment payments as other business expense or a loan? Thank you for your time.

1 reply

M
Mark_AG
March 23, 2025

Hello there,

 

QuickBooks Self-Employed is designed for simpler business tracking and doesn't have a direct way of detailed depreciation calculations like QuickBooks Online. Let me provide you more information and how you can handle this.

 

First, you'll need to consult with an accounting professional to discuss the best way to calculate depreciation. However, it's best to manually track depreciation outside of QBSE. They can advise you on the proper method for your situation.

 

Additionally, when categorizing the payments, it's best to treat this as if the payments are reducing a loan. This keeps a simple track of the payments being made through QBSE.

 

After categorizing your transactions in QBSE, it's best to create and manage category rules to quickly categorize common expenses and income.

 

Please don't hesitate to leave a reply if you have additional concerns besides recording depreciable asset in QBSE. I'm always here to assist you.

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