From the course: QuickBooks Pro 2020 Essential Training

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Use the Fixed Asset Manager

Use the Fixed Asset Manager - QuickBooks Pro Tutorial

From the course: QuickBooks Pro 2020 Essential Training

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Use the Fixed Asset Manager

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- Fixed assets are physical property your company has that depreciates in value over time. Because of this depreciation, it's important to track it in QuickBooks for local tax recording purposes, as well as keeping track of your company's overall worth. Let's go into the fixed asset manager, by clicking lists from the top menu, and choosing fixed asset item list. To create a new asset, click item on the bottom left hand side and choose new. The first thing you need to do is give a name for your asset. In this case, I'll enter in a laptop. You need to choose an asset account. There already is a fixed asset account in QuickBooks for us called furniture and equipment. I could use that one or I can scroll all the way to the top and click add new. I'll create a new fixed asset account. The type is already in there for me. In keeping with our number standards, I'll call this one 15 100. I'll give my account a name called…

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