Haw to record new car

We're glad to have you here, Tbrancov. I've got details on recording a new vehicle as an asset in QuickBooks Online (QBO).

To record your new vehicle in the program, you can create an asset account. Before doing so, ensure you don’t already have an asset account in your chart of accounts to avoid duplicates.

Here's how to check to see if you already have an asset account: 

1. Go to Settings ⚙, then select Chart of accounts.
2. In the Filter by name or number field, enter depreciation.
3. In the Name column, find Depreciation.
4. In the Account Type column, find Other Expense. 
5. In the Detail Type column, find Depreciation.
6. Note: If there’s an account that matches the description, your asset account is already set up. You no longer need to create one. Otherwise, you can create an asset account if no account appears.

Next, set up an asset account:

1. Go to Settings, then select Chart of accounts.
2. Select New.
3. In the Account name field, enter the name of the account.
4. In the Account type dropdown, select Fixed Assets or Other Assets.
5. In the Detail type dropdown, select the option that closely describes the asset.
6. In the Opening balance field, enter the opening balance amount. Then, select the starting date in the Date field.
7. Note: The opening balance can be $0.
8. Select Save. 

For additional information, refer to this article: Set up an asset account in QBO.

While doing this, I also recommend consulting with your accountant for additional guidance. This way, you're able to make sure that your account stays accurate.

Furthermore, did you know that you can enhance your business efficiency with our expert support? Our QuickBooks specialists are here to help you master sales management in QBO. Please visit this link for further information: QuickBooks Live Assisted.

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. Stays safe!