The third in a series of accounting for beginners using QuickBooks Online. In this tutorial we will review fixed assets, how to enter them and review their impact on the Balance Sheet. I then review the two most popular depreciation methods, how to calculate the depreciation using the declining balance method which is used by Revenue Canada (CRA) and is also known as capital cost allowance with a spreadsheet and how to enter depreciation in QuickBooks Online using a journal entry. Finally we will review the impact on the profit and loss and balance sheet.

To see other lessons in the series, please see playlist below:
   • Accounting Tutorials with QuickBooks ...  

Chapters:
00:00 What is a Fixed Asset
02:06 How to add a Fixed Asset in QBO
05:06 Add Fixed Asset Via Journal Entry
06:13 Impact of Fixed Asset on Balance Sheet
07:00 What is Depreciation and Methods
08:05 Revenue Canada CCA Class
09:01 How to Calculate (in Excel)
11:16 Enter Depreciation Journal Entry in QBO
13:40 Depreciation Impact on QBO Reports

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