How to add an Accumulated Depreciation in QuickBooks online for each fixed Asset Separately and accumulate for each type, please advise steps with video support

There are several ways to structure the fixed asset account list, I do it like this
fixed assets
>>Truck, Dodge 1500
>> >> cost
>> >> accumulated depreciation Dodge 1500

>>Van, Mercedes
>> >>cost
>> >> accumulated depreciation Mercedes

journal entry
debit depreciation expense
credit fixed asset accumulated depreciation, Dodge 1500
credit fixed asset accumulated depreciation, Mercedes

I would like to group the asset with the accum deprec directly under the asset on the Balance Sheet.  However, I understand the asset is listed as a fixed asset, however, the accum depreciation has to an "other asset" so it can't grouped directly under the asset.  Is this correct?

Also, should be accum deprec show up as a negative number on the Balance Sheet?

No accumulated depreciation is the same type of account, fixed asset, then it acts like a contra account lowering the full amount.  No it is not a negative entry, it is a credit entry to the fixed asset depreciation account

Thank you.  The amount of the accumulated depreciation would be a negative number though thereby reducing the asset amount.  Correct?

no it is not a negative number, it is a positive number

the fact that it is logged as a credit in an asset account automatically reduces the parent asset account value

In QuickBooks Online, I credited accumulated amortization (as a fixed asset) and debited amortization expense and the accumulated amortization shows up as a negative number.  I am not sure what I am doing wrong...

it is the way QB displays things, do not look at the chart of accounts, instead look at the balance sheet

Is the "Cost" account the purchase price of the asset?

Hello there, @alyvictoria.

The cost is the total price associated with the purchase of an asset. The original cost of an asset takes into consideration all of the items that can be attributed to its purchase and putting the asset to use.

It includes the money involved in purchasing assets and putting them to use for their purposes. Original cost is also known as an asset's cost basis for tax purposes.

You can run an expense report to track what you've spent in QBO. You might also want to customize these reports to get awesome insights into your financial accounts.

Please know that you can always get back to us if you have other questions. I'm always here to help.