Used fixed asset not reporting to the balance sheet report

I am currently using QBpro 2017. If I am understanding you correctly it sounds like I cannot add an asset to the balance sheet without writting a check and posting it to the correct asset account?

"I cannot add an asset to the balance sheet without writting a check and posting it to the correct asset account?"

Of Course you can list all of your Assets, Lliabilities and Equity. You need to enter the Values with their Offsets.

Anything you Own and anything you Owe, are affecting Equity. LIke this:

I own a Building, with my Original Basis of $150,000 and the depreciation so far is $50,000 and the Land was given a basis of $10,000. I have a mortgage of $20,000, too.

Make a Journal Entry:

Debit Fixed Asset Building/Improvements $150,000

Debit Land Asset $10,000

Credit Loan $20,000

Credit Depreciation $50,000

Credit Equity (the difference of $160,000 minus $70,000) $90,000 <== My Equity

I teach Equity like this: If I am hit by a bus, you need to Sell Everything, pay off my debt, and you get to Party on the difference. The Difference = My Equity.

"If the asset has been fuy depreciated its current vaue would be zero anyway."

You still enter Basis and you enter depreciation = Gross details.

If you are not using the QuickBooks FAM system, that part of QB for your purposes is only for tracking, doesn't effect financials.

Create a new fixed asset account in the chart of accounts, and create a depreciation expense account as well.

Debit   New Fixed Asset

Debit  Depreciation

Credit Equity

You do realize your financials are probably off though, since you likely took it as a expense when you purchased and then later that overall effected equity *which is why you are crediting (decreasing the equity account)

Hope this helps!

"You do realize your financials are probably off though, since you likely took it as a expense when you purchased and then later that overall effected equity *which is why you are crediting (decreasing the equity account)"

Whoever does your taxes should have an Asset worksheet, if they don't already provide one to you with your tax form every year. That is your reference document.