You can set it up as fixed assets and put it under Machinery & Equipment as the detail type, @bus PARTS. Below, I'll explain why and guide you through it.

To start, the generator can be recorded as fixed assets specific to machinery/equipment because these items can't be immediately classified as expenses upon purchase. It's also important to checkmark the category to monitor depreciation, allowing you to keep track of the expenses and the equipment's original cost. For more precise guidance, consider consulting your accountant for more accurate information.

Here's how to set it up:

1. Navigate to the Gear or Settings icon in the top right corner and select Chart of Accounts.
2. Click the New button and enter an account name.
3. Select Fixed Asset as the Account Type and choose Machinery & Equipment as the Detail Type. 
4. Check the option Create a category to keep track of depreciation to monitor the cost and track the associated depreciation.
5. Enter the original cost and the date.
6. Once you have completed these steps, click Save and Close.

For more detailed information, you can check this article: Add an account to your chart of accounts in QBO.

After setting up your assets, you can review this article to learn how to record their depreciation, as QuickBooks Online doesn't automatically depreciate fixed assets: Depreciate assets in QBO.

Moreover, you can refer to this article for a financial snapshot of your company as of a specific date, which includes information on your business's worth, liabilities, and assets. Run a Balance Sheet report in QBO.

Furthermore, have you had the opportunity to learn about our QuickBooks Live Expert Assisted team? They specialize in streamlining transaction sorting and financial management. I highly recommend looking into their services, as they could significantly enhance your accounting process!

Please know you can rely on the Community team for assistance in setting up your purchased generator in QuickBooks. We're here to support you and are eager to help.