Are you ready to add a new fixed asset to QuickBooks and handle the tradein of an old asset?

As your business grows, you may need to invest in new equipment, vehicles, or other fixed assets.

QuickBooks makes it easy to track these longterm assets and handle the accounting for them. When you purchase a new fixed asset, you'll first add it to your QuickBooks asset list.

Then, if you're trading in an old asset, you'll need to handle the tradein value and any gain or loss on the disposal of the old asset.

In this video, I'll walk you stepbystep how to:
Add a new fixed asset to your QuickBooks asset list
Enter the details of your new asset including purchase price, estimated useful life, and other details
Record the tradein of an old asset and account for any gain or loss
Be sure to check out this week's video for the full walkthrough and to see these steps in action.

Share in the comments below if this helped you and if you had any ahha's

Resources mentioned in the video :
Depreciation Tutorial:    • How to enter Depreciation into QuickB...  

Want to learn how to do journal entries? Download my 'Master Debits & Credits for Journal Entries' Guide: ➡ https://CandusKampfer.com/jepdf

If you're looking for the Desktop version of this video click here:    • How to Process a Trade In on a New Ve...  

Ready to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business... ➡ https://CandusKampfer.com/workshop

Receive our QB tips straight to your inbox each week visit: ➡ https://CandusKampfer.com/tips

Timestamps:
0:00 Intro
0:18 QuickBooks Desktop: How to Process a Vehicle TradeIn
0:33 Disclaimer: I'm not a Tax Professional
0:56 Details needed to enter for journal entry in QuickBooks Online
1:54 When you are buying a new Asset and you're going to capitalize it
2:14 Depreciation Video Tutorial
7:38 Setting up Assets and Loans
9:48 Creating a Journal Entry in QuickBooks Online
11:53 Free Download: Journal Entries Debit and Credits Cheat Sheet PDF
https://canduskampfer.com/jepdf'>https://canduskampfer.com/jepdf
15:11 Checking Journal Entries in Chart of Accounts
16:38 Making Accounts Inactive
17:08 Finding Inactive Accounts and making active again
17:45 Join Canduskampfers Weekly QuickBooks Tips and Tricks
https://canduskampfer.com/tips'>https://canduskampfer.com/tips
17:55 Customizing QuickBooks Workshop
https://canduskampfer.com/workshop'>https://canduskampfer.com/workshop


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