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June 2, 2020
Question

In your fixed asset list (on my phone) the only fixed assets listed are computers. I have just brought an expensive tool. How do I list it as A fixed asset?

  • June 2, 2020
  • 1 reply
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1 reply

Jen_D
June 2, 2020

Let's get your fixed asset added in QuickBooks Online, @starkeygardens,

 

You mentioned that this tool is newly bought, so we need to add it first in the Chart of Accounts. To do that, follow the steps below on your mobile app:

 

  1. Click the Hamburger icon on the mobile app and select Chart of Accounts.
  2. Use the New or Plus icon (+) to add an asset.
  3. Enter Tangible assets as the Account Type and the details before saving.

To add an account in the web (qbo.intuit.com):

 

  1. Go to the Accounting menu and press New.
  2. Use Tangible assets for the Account Type.
  3. Choose a Detail Type from the drop down menu.
  4. Add any missing information and click on Save and Close

Now you can keep track of your fixed assets and its depreciation in QuickBooks on the Balance Sheet Report. You can check out this article to help you get around with our program: Resource Hub for QBO United Kingdom.

 

If you have additional questions about this or need further assistance with anything QuickBooks related, let me know in the comment. I'll be around to help you. Have a wonderful day!