How do i link vehicle finance account to quickbooks

Good to see you here in the Community, @chuckbutler123-g.

I can help you record the vehicle finance account in QuickBooks Online (QBO).

There are two parts to purchasing any vehicle. First, record the asset, and the second part is recording the liability (if there is a loan on the vehicle).

To properly record a purchased vehicle or any other fixed asset, follow the steps provided below:

1. Go to the Accounting menu, and then Chart of Accounts.

2. Click the New button at the top right corner.

3. From the Account Type drop-down, select Fixed Assets.

4.Select the Detail Type drop-down arrow, and then choose Vehicles.

5. Enter the name and description of the account.

6. Hit Save and Close.

Once done, add the purchased vehicle. To record the purchase, link it to the Fixed Asset Account that you created.

To set up a liability account for a loan, you can check this link: How do I record the loan for an asset?

I'm adding this article that will guide in recording asset depreciation and how to create an account to track this:  Record and depreciate assets.

Also, you can always visit our Reports and Accounting articles for ideas in managing your account and other related tasks.

Drop me a comment below if you have any other questions. I'll be more than happy to help. Wishing you a good one.

Hi, @chuckbutler123-g.

Hope you’re doing great. I wanted to see how everything is going about recording the vehicle finance account you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!

When you are recording the vehicle asset, do you record just the down payment amount or the total purchase price even if part of it is financed?