Looking for the conventional Fixed Asset Subledger Report including:
-description of asset
-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! Go to Solution.
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
>> 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.