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How do I enter my land, building, car into the chart of accounts when the only category is "current assets." There is no option of "fixed Assets"

 
3 Comments
QuickBooks Team

Re: How do I enter my land, building, car into the chart of accounts when the only category is "c...

Hello sarmurray,

 

I know it's important to account for each of your assets in your books and make sure it's done properly so your books are correct. You're correct in noting there isn't a fixed asset option in QuickBooks Online's chart of accounts. Because of that, it may require some workarounds to get these items recorded.

 

I encourage out accountant users here in community to chime in with their thoughts. There are plenty of bright minds here that I'm confident can help with finding a solution. There may even be other posts here in community that can help you figure this out.

 

Another thing you could do is reach out to an accountant for more insight and guidance. With QuickBooks Online's ability to add accountant users, it makes it even easier to connect with an accountant and get these things taken care of. If you don't already have an accountant, the My Accountant tab in QuickBooks can help you find one using the Find a Pro to Help feature and using your postal code to narrow the search.

 

Feel free to stop by community again. :)

Established Community Backer ***

Re: How do I enter my land, building, car into the chart of accounts when the only category is "current assets." There is no option of "fixed Assets"

@sarmurray 

 

do you have a choice for a capital asset?

 

Fixed assets are sometimes called capital assets

ProAdvisor

Re: How do I enter my land, building, car into the chart of accounts when the only category is "current assets." There is no option of "fixed Assets"

@sarmurray 

 

For whatever reason in Canadian QBO version, Intuit is using "Property, plant and equipment" as Account Type for Fixed Assets type. 

Select "Property, plant, and equipment" and then you will see detail type for fixed assets.