Jess Stratton shows how to set up fixed asset accounts, and how to add, update, and mark sold assets such as equipment and real estate into QuickBooks.
- [Instructor] 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 reporting 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.…Here's our list, and there's nothing in here right now.…To create a new asset, click Item…on the bottom left-hand side and select 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'll need to choose an asset account.…There's already 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.…In keeping with the number standards,…I'll call this one 15,100.…I'll give my account a name and I'll call it Laptops.…
I'm going to create a subaccount of Furniture and Equipment.…
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- Setting up a new company file
- Working with the chart of accounts
- Adding bank accounts and credit cards
- Adding service or inventory items
- Setting up sales tax
- Adding customer, vendor, and employee profiles
- Billing customers
- Receiving payments
- Recording deposits
- Handling refunds and credits
- Paying employees
- Sharing QuickBooks with others
- Running reports
Skill Level Appropriate for all
1. Navigate QuickBooks
2. Work with Company Files
3. Set Up Shop
4. Add Customers
5. Work with Vendors
6. Add Employees
7. Manage Day-to-Day Operations
8. Handle Special Cases
9. Administer Payroll
10. Manage Online Banking
11. Share QuickBooks with Others
12. Find Information Quickly
13. Run Reports
14. Manage Year-End Preparations
15. Customize QuickBooks
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