Moderator

Account management

Hello nytcpa,

 

Thanks for getting back to us and providing clarification on your question about the Fixed Asset Manager in QuickBooks Desktop. Allow me to help share what I know on this.

 

At this time, you can only export data from QuickBooks Fixed Asset Manager into ProSeries, and it should have the same year. You'll need the FAM feature to identify depreciation in the price of an asset, deterioration, etc. for tax purposes.

 

If you want to track the Accumulated Depreciation manually, you can do it with entries. However, it would be best to seek expert advice from an accountant to ensure your asset information is accurate.

 

In case you want to know more on the Fixed Asset Manager feature, check out this article:

 

Manage fixed assets using Fixed Asset Manager (FAM).

 

Feel free to get back to us for any additional questions you may have with tracking fixed assets, and I'll be sure to lend a hand.