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Join nowI have set up a long term liability account. This is for an asset that I will start to depreciate. I made the liability account payable, however it shows up as an opening balance. I used a negative value to make the account. My question is how do I start to show the payments to pay the loan off and to depreciate the asset. I will create an expense account for the interest. I used a journal entry to create the the accounts. Should this be showing up as an opening balance. I can only show one photo. There is also an entry to show it in the asset account
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Hi Jea2252!
Welcome and thank you for getting help with tracking your asset. I'll share a reference with you.
You'll want to set up a depreciation account to track your assets and your payments. Please follow the steps in this article: Depreciate assets in QuickBooks Online.
Let me know if you have other questions in mind.
Hi Jea2252!
Welcome and thank you for getting help with tracking your asset. I'll share a reference with you.
You'll want to set up a depreciation account to track your assets and your payments. Please follow the steps in this article: Depreciate assets in QuickBooks Online.
Let me know if you have other questions in mind.
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