How to enter fixed assets in QBO. First, we discuss how to correctly create a new Fixed Asset in your QBO Chart of Accounts in order to separate and show the original cost of the asset as well as the deprecation. Then, we will discuss a potential error I sometimes see with people attempting this method. Last, we go over how to apply the actual purchase payment(s) of the new fixed asset. This method is a great way to separate and track individual assets and their associated depreciation vs putting fixed assets and depreciation in one bulk account.

I created a 2024 updated video on this topic due to a change in QBO's Chart of Accounts experience. So, if your file looks different than in the video, then please watch the updated video found here:    • How To Enter Fixed Assets into QuickB...  

Link to schedule a oneonone Zoom video 1 hour training session with Gunnar:

https://calendly.com/essentiallyinte...

Thank you for watching my videos. My name is Gunnar Harris and I am the owner of Essentially Intentional, LLC. I provide financial bookkeeping and accounting training for small business owners.

One of the best ways that you can help me is by signing up for my email newsletter so that I can reach you directly with free training resources without having to rely on social media algorithms. You will immediately receive free access to download the following training materials:

Small Business Foundation eBook
Daily Sales Accounts Checklist
1 Hour Webinar “The Quick about QuickBooks Online”

Once signed up, you will periodically receive:

Free training resources sent directly to you
Updates on new ecourse progress/release dates
Temporary discount codes only sent to email subscribers
Updates on my journey of completing my “Life Goals List”

If interested, click the link below:

https://www.essentiallyintentional.c...

Link to schedule a oneonone Zoom video 1 hour training session with Gunnar:

https://calendly.com/essentiallyinte...

Finally, also available is an online course titled “The Essentially Intentional Bookkeeping Course”. On offer for you is a discount code to be applied for 5% off!

Code: EIYOUTUBE5

If you would like to check out the course then click the link below. From there you can find the link to purchase and when checking out, you can copy & paste the code above for your 5% off discount as your gift from coming here from YouTube.

https://www.essentiallyintentional.c...

Thank You!

Timestamps:
0:00 Intro
2:06 Creating Fixed Asset account in Chart of Accounts
5:00 Possible error explanation
6:50 Applying purchase payment to new Fixed Asset