Good day, @MeganDKS2022.
I'll help you record your vehicle sale in QuickBooks Desktop (QBDT).
If your customer already issued a receipt for the purchase, then we can track it by creating a sales receipt in QuickBooks. Here's how:
- Go to the Customers menu and click Create Sales Receipts/Enter Sales Receipts.
- From the Customer: Job drop-down, select a customer or job.
- Fill in the relevant information at the top of the form like the Date and Sale No.
- Choose the payment method.
- In the detail area, choose the item(s) you propose to do or include as a sale.
- Fill in the rest of the information and click Save & Close.
Once done, let's set up asset accounts to track the depreciation. This article will show you the same concept on how to accomplish the task: How to set up fixed assets to track depreciation in QuickBooks Desktop for Mac.
Please take note that the steps included in the said article are intended for QBDT for Mac. Although, we can follow its idea of how depreciation is being tracked in QBDT Desktop.
When tracking the depreciation, you can create a journal entry. Determining the amount to be deducted can be a complex process as the IRS rules on the subject change often. Thus, I'd recommend reaching out to an accountant for further help in tracking the asset.
Moreover, you can also check some resources from our General Article List when handling your accounts in the program.
Please let me know if you need further help in recording asset depreciation or sales in QuickBooks Desktop. You can always share it with us and we'll be here to provide assistance. Have a good one.
