fixed asset item list

Thanks for visiting the Community, ANSONLAU.

The fixed asset item list is currently unavailable from the List menu of your QuickBooks Desktop for Mac. Instead, open the Chart of Accounts to view the account information.

You might also want to check out this article: What's new in QuickBooks Desktop for Mac 2020.

I'll be here to help you out again if you have more questions regarding QuickBooks Desktop for Mac. Take care and stay safe!

If I need to use the QuickBooks to calculate the depreciation expense of fixed assets, how to use QuickBooks to record and calculate it?

If I need to use the QuickBooks to calculate and record the depreciation expense of fixed assets, is there anyway that I can do it on the Quickbooks for Mac2020?

Good morning, @ANSONLAU. 

Thanks for reaching back out to the Community and asking about how to calculate the depreciation expense of fixed assets in your QuickBooks Mac 2020 account. Allow me to give you some information and steps on how to do this in the system. 

Fixed assets are ones you don't expect to change to cash during one year of normal operations. Examples: Truck, customer, cash register, etc. Depreciation is the drop in the value of an asset (physical). 

Set up an asset account to track depreciation

To depreciate an asset, you need to create a fixed asset account for each/or group of them. 

• Set the account type as "Fixed Asset." 
• Name the account as what asset it's tracking. 
• Leave opening balance at 0.00. 

Add two subaccounts to each asset account you created. One subaccount tracks the cost of the asset, the other tracks accumulated depreciation. Next, create an expense account to track depreciation expense. Give the account a name like “Depreciation Expense.”

For more details on how to set these accounts up, check out this guide: Set up asset accounts to track depreciation. 

Enter a depreciation

1. Go to the Lists menu. 
2. Choose Chart of Accounts. 
3. Pick the subaccount the tracks accumulated depreciation for the asset you're depreciating. 
4. Press Use Register from the "Action" pop-up menu. 
5. In the bottom of the register, enter the transaction. 

• Depreciation as a decrease amount
• Select the expense account you set up to track depreciation from the "Account" field. 

In addition, learn more about the chart of accounts through this article. 

These steps and details should do the trick so that you're able to calculate and record the depreciation. If you have any other questions or concerns, feel free to ask. I'm always here to lend a helping hand. Have a great day! 

Is there any update on when fixed assets items list will be available? The whole point of utilizing the fixed asset item list is so we can print the asset listing with the correct detail (not just account balances like are shown in the chart of accounts) and give it to our accountant to determine the best way to utilize depreciation schedules. It sounds like Mac user will need to track a separate spreadsheet for fix asset purchases and sales. This is extremely disappointing. Hard to recommend any client to switch to QBO online when a $400 investment into an intuit product did not perform as it should. 

Thanks for joining this thread, @Hammondla.

Our goal is to make QuickBooks as user-friendly as possible. Also, I can see how it would be beneficial to you and your business to have the fixed assets items list in QuickBooks.

As of the moment, we're unable to provide an update on when this feature will be available in QuickBooks Desktop for Mac. Rest assured, our engineers are aware of this and might include the request in future updates.

For now, you can create a fixed asset account in QuickBooks Desktop. For further details, you can follow the steps provided by my colleague above. 

Also, you can visit our QuickBooks Blog so you'd be updated on the latest product updates, improvements, and feature releases.

I'm also adding this link to guide you set up asset accounts to track depreciation. 

Keep me posted if you have other concerns with QuickBooks. I'll be looking forward to your response. Keep safe always.