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Woodshop1
Level 1

Equipment Purchase

How should I record a equipment purchase (table saw) that I made on a credit card? I have the credit card set up in QB already and recorded the purchase there but should I set up a fixed asset account as well?

 

Thanks

1 Comment
Rustler
Level 15

Equipment Purchase

A table saw should be a fixed asset, create the fixed asset account for the table saw

then edit the transaction in the CC and change what ever account you used, to the table saw fixed asset account.

 

Buying a fixed asset is not an expense.  Though at tax time your tax guy might choose to fully depreciate the purchase, but that is a tax time decision

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