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wecandoitservice
Level 1

How do i upload equipment to my inventory?

 
1 Comment 1
Rustler
Level 15

How do i upload equipment to my inventory?

there is a work around to do that, but I advise against it

inventory in QB for resale or making something for resale

 

but if you want to do it, and realize that this is for accountability ONLY

create a new inventory asset account called equipment asset

you should have an equipment expense account, if not make one

Inventory items have three accounts 
expense = equipment expense
income = your sales income account
asset = equipment asset

 

then when you create inventory items for equipment, be SURE you change the expense and asset account as shown.  be sure the cost block is ZERO

 

the reason I do not advise it is that QB is dumb, when you run an inventory asset valuation report, QB will put BOTH inventory asset accounts together for reporting.

 

Equipment that is under $2500 can be expensed rather than making them fixed assets and depreciating them.  And even though you have equipment as inventory items, you still have to carry the high dollar long life asset as a fixed asset with a depreciation account.

 

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