Question

What is the accounting treatment for buying container for storage ?

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Hi,

I have recently bought the used container for storage purpose. Please anyone can advise me how i should treat this transaction.

Many Thanks

QuickBooks Online

Good day, Brian Nguyen.

My peer has already answered your first question. As per advised, it's best to consult your tax advisor for the correct posting. You can see the response here: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/what-is-the-accounting-treatment-for-buying-storage-container/01/575847#M75421.

If you have other questions, you can leave a reply on this thread.