Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Hello there, @Jenny.
Let me share some information regarding your concern about entering the purchase of a business vehicle in QuickBooks Online.
In QuickBooks Online (QBO), you can set up your liability account to track business vehicles. I'll walk you through how:
Step 1: Set up a liability account to record the business vehicle.
Create and set up a liability account. If you add a deposit to the liability account during Step 1, you will need to make a second Journal Entry.
Entering a balance credit the liability account for the business vehicle uses an offset to open balance equity. If the credit is added again in step 2, it will result in a duplicate entry to the liability account. Debit the liability account and credit opening balance equity in the second journal entry.
Step 2: Record a liability repayment.
Follow these steps to record each liability repayment when you're ready to pay it back.
Furthermore, here is an article to learn how you match your bank and credit card statements: Reconcile an account in QuickBooks Online
If you have any more questions or need further assistance with handling your purchase of a business vehicle or any QuickBooks-related concern, please feel free to reach out. We're here to help you navigate.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here