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J
jastolfi
August 2, 2020
Question

Tracking Capital Expenditures on QuickBooks Online

  • August 2, 2020
  • 1 reply
  • 0 views

How does one track Capital Expenditures on QuickBooks Online?

Currently there is no account/category for this.

 

This article does not explain 'how' to file within QuickBooks.

https://quickbooks.intuit.com/ca/resources/taxes/how-to-claim-a-business-deduction-for-your-television-and-other-tech-gadgets/

 

Is this relevant if it was for the Online version?

https://quickbooks.intuit.com/blog/whats-new/how-to-use-class-tracking-in-quickbooks/

1 reply

AddieC
AddieC
August 3, 2020

Hi there, 

 

Running a small business means you'll be responsible for tracking assets, costs, and transactions relating to your company. QuickBooks Online allows you to customize things like your Chart of Accounts in order to properly categorize your income and expenses. If you're looking for a way to track Capital Expenditure, I'll point you in the right direction for advice. 

 

The way to set this up primarily depends on the advice of your accountant. They'll be able to tell you the type/detail type to select when setting up an expense account in order for things to be accounted for properly. If you're not already connected to an accountant, you can find one in your area here: Find a ProAdvisor. The best thing about ProAdvisor accountants is that they're trained and certified in QuickBooks, so they'll be able to provide advice based on the product capabilities.

 

Once you've consulted with them, here's how to add a new account to your Chart of Accounts: Add to or edit the Chart of Accounts. 

 

I hope this helps get you back on track. If you have any other questions, please reach out to our tech support team directly. 

Cheers. 

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