Fixed asset and depreciation schedule but no accounting tab in QBO.

@OttEnterprises2024 

What version of QBO are you using?  That's only available in QBO Advanced.

I think it is Quickbooks Online Plus

Are you referring to the "Advanced Accounting" tab? QuickBooks Online  (QBO)  offers different subscription levels, and some features can only be available in specific plans. I'm here to help you with your fixed asset and depreciation concerns, Ott.

QuickBooks Online Advanced lets you automate how you manage and track your fixed assets, calculate book depreciation, and generate reports. You can also find the Advanced Accounting tab in this version. 


 

You'll want to consider upgrading your subscription so you will be able to use the feature. To do so follow the steps outlined below: 

1. Sign in to QuickBooks Online as a primary or company admin.
2. Go to the Gear icon and select Subscriptions and billing.
3. Make sure your payment info is up to date.
4. In the QuickBooks Online section, select Upgrade your plan.
5. Review the available plans and then select Choose plan.
6. Follow the on-screen steps to upgrade your plan.

On the other hand, if you still want to utilize the QBO plan that you have, you can add Fixed Assets to your Chart of accounts and be able to manage Depreciation manually. However, I still recommend reaching out to your accountant for other ways on how you can the process. To add an account, follow the steps below:

1. Go to the Gear icon and select Chart of accounts.
2. Select New.
3. Enter an Account name.
4. Select an Account type, and choose Fixed Assets.
5. Select the Detail type from the dropdowns.
6. If this account is a subaccount, check Make this a subaccount, then choose the Parent account it should be under.
7. Click Save.

To give you more information on how you can add more accounts so you can track other types of transactions, check out this article for reference: Add An Account to your Chart of Accounts in QuickBooks Online.

Furthermore, learn how to reconcile your fixed assets or other accounts regularly to ensure accuracy and consistency across your financial statements. I have this resource for more details: Reconcile An Account in QuickBooks Online.

Did you also know that our QuickBooks Live Expert team is readily available to assist you in maximizing the benefits from your bank accounts to your bank transactions? With their expertise, you can gain a clearer understanding of your business's financial health and make more informed decisions. Our team is here to ensure that you have all the support you need to effectively manage your finances.

If you have any other concerns or questions about adding an account in QuickBooks, please comment below. Please know that we're always here to assist you.