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iloveaccounting2
Level 1

Everytime I remove an asset my checkings account increases.

When I try to zero out a fixed asset, my banking account goes up. How do I decrease it? or what is the correct way to zero out a fixed asset. I made a general journal which credits the asset and debits from the bank account. 

1 Comment
Catherine_B
QuickBooks Team

Everytime I remove an asset my checkings account increases.

Hello there, iloveaccounting2.

 

Making sure you take care of these sorts of situations is an essential part of bookkeeping. To determine which accounts you need to pick for your journal entry, I recommend consulting an accountant. That way, your balance will correctly post to the correct account and zero out a fixed asset. 

 

You can also run reports that will help you in reviewing your account balances. 

 

Let me know if you have other questions. Take care and have a good one!