How do I record a new vehicle that I acquired the title through a mechanics lien?

I'll guide you on how to record the vehicle asset you own, Tamara.

You can set up an asset account in QuickBooks Online to monitor your vehicle's current value and depreciation. Here's how:

1. Click on the Gear icon, then select Chart of Accounts.
2. Click on New.
3. Choose Fixed Assets or Other Assets from the Save account under.
4. From the Tax form section, determine the option that describes the asset.
5. Enter a name in the Account name field.
6. In the Starting date and opening balance field, select a starting date and enter the current value of your asset account balance.
7. Hit on Save.

For detailed instructions, read this article: Set up an asset account in QuickBooks Online.

You can also track your vehicle's depreciation moving forward.

Return to the Community space if you need further assistance handling your assets within the program. I'm ready to provide the information you need. Have a great day.