Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?

1 reply

carolineambrozio
carolineambrozio
June 22, 2021

Hi @gatzke_admin, 

 

I'd be happy to point you in the right direction.


Generally speaking yes, How it's classified and with useful life it depends on the signage. For this reason, it's best to reach out to your accountant to make sure you use the appropriate type of asset, as they are trained on how to do this. If you don't have an accountant no need to worry, we can help. You can go to My Accountant>Find a pro to help to find an accountant in your area.

If you have any questions please feel free to reach out and let us know. We'd be happy to help.

T
Tammy_H
June 22, 2021

Hi gatzke_admin,

 

Knowing how to record assets is a large part of record keeping. Carolineambrozio has provided some good advice. I want to share a couple of articles that explain how to set up the account and explain what the terms mean if you'd like to review them: 

If you require any further assistance, reach back out. Have a magnificent evening!

    G
    gatzke_adminAuthor
    June 23, 2021

    You're welcome, gatzke_admin. To keep accurate records, you need to track your sales tax, whether you've paid or collected them. QuickBooks Online has a powerful Sales Tax module with an up-to-date total, so you always know whether you can expect a refund or have a payment owing. Let me explain how QuickBooks handles sales tax.

     

    This article goes into detail about how the module works: Learn how QuickBooks Online calculates sales tax. If you want to create default taxes, you can follow the steps in this article: Create subaccounts in your chart of accounts in QuickBooks Online. 

     

    Let me know if there's anything else I can help you with. Take care.


    Thank you Tammy_H,

    What I was meaning was if I put the price of the fixed asset when I add it into chart of accounts before taxes as isn't that what it's really worth?

     

    Thank you for all the links, I really appreciate it!

    Need QuickBooks guidance?
    Log in to access expert advice and community support instantly.
    Terms & ConditionsAccessibility statement