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csokoloff
Level 1

Computer (Fixed Asset) Purchase

Hello all,

 

I purchased a computer via financing.  If I paid $2400 for the computer and will be paying $200/month for it.

Do I put the whole purchase price as a fixed asset on the balance sheet.  If so, how do you record the $200 payments when they come out as a transaction from my business bank account?

 

Thank you,

Chad

1 Comment 1
IamjuViel
QuickBooks Team

Computer (Fixed Asset) Purchase

Greetings, @Chad.

 

Let me share some information so you'd be able to track your business-related expenses in QuickBooks.

 

Depending on how you purchase your computer, you can create an expense or a check transaction to record it in QuickBooks. Here's how:

  1. Go to the New (+) icon.
  2. Choose Expense or Check.
  3. Select Payee's name or the Vendor of the computer.
  4. Choose the business bank account used in purchasing the computer.
  5. Enter the purchase details in the Category Details section.
  6. Click the Save button.

Also, I'd recommend consulting with an accountant so you'd be guided in choosing an expense account or fixed asset account for each of your purchases.

 

Lastly, you can refer to these articles to help you get your way around tracking and categorizing your business-related transactions:

Keep me posted if you have other questions about generating your expense-related transactions. Wishing you and your business continued success in all that you do.

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