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Are there any Fixed Assets Subledger Reports in QBOL?

Looking for the conventional Fixed Asset Subledger Report including:

-purchase date

-vendor

-description of asset

-original cost

-depreciable life

-depreciation to date

By requiring each asset be set up in the chart of accounts in essentially 3 seperate accounts (one master, one original cost and one accumulated depreciation) you have created a very tricky process that really presents challenges when preparing a Balance Sheet or Cash flow statement. Perhaps I'm using the system incorrectly. Your guidance is appreciated.

Solved
Best answer 10-15-2018

Accepted Solutions
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Established Community Backer ***

There is no fixed asset manager in QBO You control the ac...

There is no fixed asset manager in QBO

You control the accounting and the accounts used for fixed assets, either an account per item, or a generic fixed asset account per type of item

Fixed assets list like

Bobcat serial# xxx
>>cost
>> accumulated depreciation bobcat

Present no problems with the balance sheet at all.  On the balance sheet you can collapse the sub accounts into the parent to show one line entry with the book value displayed

Cash flow tracks cash in and out, the FA account list has nothing to do with that, except for the very first time you pay for a fixed asset.

View solution in original post

1 Comment
Highlighted
Established Community Backer ***

There is no fixed asset manager in QBO You control the ac...

There is no fixed asset manager in QBO

You control the accounting and the accounts used for fixed assets, either an account per item, or a generic fixed asset account per type of item

Fixed assets list like

Bobcat serial# xxx
>>cost
>> accumulated depreciation bobcat

Present no problems with the balance sheet at all.  On the balance sheet you can collapse the sub accounts into the parent to show one line entry with the book value displayed

Cash flow tracks cash in and out, the FA account list has nothing to do with that, except for the very first time you pay for a fixed asset.

View solution in original post

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