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MikeyB
Level 2

Can QB Desktop Pro 2020 track depreciation in Fixed Asset Items listing?

Is it possible to track straight-line depreciation within QB Desktop Pro 2020, within the Fixed Asset Items listing?

 

I have set up all of my Fixed Assets within the listing window, but would like to see the accumulated amortized cost of each of the individual assets.  Is this possible?

Solved
Best answer June 17, 2021

Best Answers
john-pero
Community Champion

Can QB Desktop Pro 2020 track depreciation in Fixed Asset Items listing?

In Pro all you get is Fixed Asset Item List, if you want to actually track depreciation or have it calculated for you it takes an upgrade to Premier or Enterprise (or Desktop Accountant) as those are the only versions that accomdate FAM

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3 Comments 3
AileneA
QuickBooks Team

Can QB Desktop Pro 2020 track depreciation in Fixed Asset Items listing?

Hello, MikeyB. 

 

Thank you for reaching out to the Community. Please allow me to help share information about accumulated amortized costs. The accumulated amortization is the cumulative amount of all amortization expense that has been charged against an intangible asset. The concept can also be intended to apply to all amortization that has been charged to date against a group of intangible assets.  

 

Accumulated amortization is recorded on the balance sheet as a contra asset account, so it is positioned below the unamortized intangible assets line item; the net amount of intangible assets is listed immediately below it. 

 

You can get more information through these articles helpful:

 

 

Please know that you're always welcome to post if you have any other concerns. The Community team will always here to help. Stay safe!

john-pero
Community Champion

Can QB Desktop Pro 2020 track depreciation in Fixed Asset Items listing?

In Pro all you get is Fixed Asset Item List, if you want to actually track depreciation or have it calculated for you it takes an upgrade to Premier or Enterprise (or Desktop Accountant) as those are the only versions that accomdate FAM

MikeyB
Level 2

Can QB Desktop Pro 2020 track depreciation in Fixed Asset Items listing?

Thanks for the insight!  

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