How to record a property purchase with no down payment or loan payment involved.

Hello VLS Pilates,

Recording fixed assets usually requires a journal entry in QuickBooks Pro and Premier versions. When creating a journal entry, you might need to affect an asset account. Before creating it, I'd recommend reaching out to your accountant about this. They might be able to give you another options to record the purchased property.

In QuickBooks Desktop Enterprise and Accountant versions, we have a feature that allows us to track fixed assets. You can use these articles to know more about it:

• Set up Fixed Asset Manager (FAM)

• Manage Fixed Assets Using Fixed Asset Manager (FAM)

• Use Fixed Asset Manager in QuickBooks Desktop

Again, your accountant is the best person to consult when it comes to these topics.

Thanks for answering back so soon.  I looked at the links you provided but unfortunately, it didn't help me much.  We have reached out to a QuickBooks Advisor and hope to get an answer from them.  As soon as we receive an answer we will post it.