Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I don't understand what you are asking
if you buy an asset, that is not an expense at all, it is a purchase of something you keep on the books as an asset or as inventory.
If you bought an asset and borrowed money to do so, the full amount borrowed is the cost of the asset, and the debt is now a liability account, you pay down the loan. That is also not an expense, and when paid down does not affect the asset cost
Could you explain in more detail please?
A computer system was purchased by an employee and the purchase was reimbursed through payroll and came into Quickbooks as a journal entry that attributes it to a reimbursement expense. It's over $2500, so it should be added as a fixed asset, correct? And if it's added as a fixed asset, what about the reimbursement expense? Another complication is that the reimbursement journal entry includes other reimbursements and would need to be split out if it needs to be associated with something else.
A computer system was purchased by an employee and the purchase was reimbursed through payroll and came into Quickbooks as a journal entry that attributes it to a reimbursement expense. It's over $2500, so it should be added as a fixed asset, correct? And if it's added as a fixed asset, what about the reimbursement expense? Another complication is that the reimbursement journal entry includes other reimbursements and would need to be split out if it needs to be associated with something else.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here