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BettyJaneB
QuickBooks Team

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Hi there, @Iniuan22

 

I'd like to Welcome you to the Community family. Allow me to share some information on where you can place the purchase of a piece of equipment in QuickBooks Online.

 

Equipment can be recorded as fixed assets, for these are the items that you can't immediately count as an expense when purchased. 

 

To set up an asset, please follow these steps:

  1. Select the Gear Icon at the top.
  2. Under Your Company, choose Chart of Accounts.
  3. On the top right, select New.
  4. Under the Account type, select either Fixed Asset.
  5. Select the detail type that best describes the asset, then click Next.
  6. Name the account.
  7. If you mark the Track depreciation of this asset box, the system will automatically create a Depreciation sub-account for the item.
  8. Fill in the original cost fields.
  9. Select Save and Close.

For more information about this process, please refer to this article: How do I set up an asset?

 

However, if you are unsure on which option to choose, I'd suggest consulting your accountant for assistance. This is to ensure that your books are accurate.

 

You can also get one-on-one help for your business:
Check out QuickBooks Live.

 

This should keep you moving today, @Iniuan22. Please don't hesitate to post any questions that you may have. Cheers to a productive and prosperous day.

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