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January 28, 2020
Question

Trying to add asset once selected it doesn't say how to apply it. Advice on how to add assets once selected in transaction.

  • January 28, 2020
  • 1 reply
  • 3 views
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1 reply

AlexV
Level 10
January 28, 2020

It'll be categorize automatically, ledezma-brittany.

 

When adding a transaction, we have to make sure that we categorize them correctly. QuickBooks Self-Employed will add it as an asset once you selected any of these:

  • Apps/software/web services (> $200)
  • Computers (asset, usually > $200)
  • Copiers (asset, usually > $200)
  • Furniture (asset, usually > $200)
  • Other tools and equipment (> $200)
  • Phone (asset, usually > $200)
  • Photo/video equipment (> $200)

You'll see a pop-up asking you to confirm the transaction as your asset. Simply click on Categorize as asset button.

Also, you can pull up the Tax summary report. This is to verify if the transaction was successfully categorized. Go to Reports tab and select the said report. Make sure you've selected the correct tax year. Then, you can see it in the Business assets section of the report.

 

Please comment below if you have more clarifications. I'll be glad to help!