Adding an existing fixed-asset (vehicle)

Hi there, Lisa619.

Welcome to the QuickBooks Community. I'll ensure you're able to record asset entries that are associated with Items include a company vehicle and equipment (tools).

There is a specific categorization for every entry in QuickBooks Online. Fixed Asset are the purchased items for long-term use. These are usually equipment, machinery, land, and cars. That said, you can enter company vehicle and equipment (tools) as a purchased asset in your QuickBooks Online. Before that, you'll have to create an asset account connected with the correct detailed type where the equipment will be posted. While doing this, I also recommend consulting an accountant for additional guidance on posting correct accounts or the right category of the entry. This way, you're able to make sure that your account stays accurate.

Here's how to create account: 

1. Go to the Gear icon at the top.
2. Under Your Company column, choose Chart of Accounts.
3. On the top right, select New.
4. From the Account type, select either Fixed Asset.
5. Select the detail type that best describes the asset (Vehicles and Equipment).
6. Name the account.
7. If you mark the Track depreciation of this asset box, the system will automatically create a Depreciation sub-account for the item.
8. Fill in the original cost fields.
9. Select Save and Close.

For additional information, you can refer to this article: Set up an asset account in QuickBooks Online.

After that, you can now create an expense and use the asset account you've made.

Please click this article on how to set up a particular account to manually track depreciation using journal entries: Depreciate assets in QuickBooks Online.

If there's anything else that I can help you with, please let me know by leaving any comments below. I'll be here to lend a hand.

@Lisa619 

As an additional option, you may have an additional app to integrate with your QBO and manage your fixed asset and record the depreciation cost automatically.