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Established Member

How to add a personal item to the books as a fixed asset?

Hi - I'm new to QBO and I have a question about Fixed Assets.

I'd like to add a piece of personal furniture to the books.

It does not qualify as an expense, nor should I use a check

or consider it a bill. So - how can I add such an item to

the books?

 

Thanks for your help!

 

Rob

1 Comment
QuickBooks Team

Re: How to add a personal item to the books as a fixed asset?

Welcome to the Community, @robhsm.

 

In QuickBooks, it isn't advisable to mix personal and business funds and transactions, you may encounter situations that will require you to do so.

 

When paying for your personal purchases, you'll need to record them as purchases by using the company's account and then reimburse the company.

 

To record the personal purchase:

  1. Click the Plus icon.
  2. Under Vendors, click either Check or Expense.
  3. Click the Payee.
  4. Specify the Bank Account, Cash Account, or Credit Card with which the purchase was made.
  5. From the Category details section, specify Other Current Assets or Owner's Equity in the Category column.
  6. Enter the Amount of the purchase.
  7. Click Save and close.

 

Once done, you can record the expense, and reimburse the company for the amount of the purchase.

 

For additional information, please read this article: How to pay for business expenses with personal funds.

 

Please reach out again if you have any other questions. Have a nice day!