Guide me on how to create Asset register in quickbooks

Good day, oonyona08.

In QuickBooks Online, you can easily set up asset. Here's how you can do it:

1. Click the Gear icon.
2. Under Your Company, choose Chart of Accounts.
3. On the top right, select New.
4. Under the Account type, select either Fixed Asset or Other Asset.
5. Choose 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 subaccount for the item. 
8. Fill in the original cost fields.
   • If you’re only recording the loan for the asset, please leave this blank
9. Select Save and Close.

I've added a screenshot below for you to see it.

Don't hesitate to post again if you have any questions about QuickBooks. Have a good one!

This is not happening.  The save button does not light up.  It records no entry and leaves me hanging.

I need to add a new asset.  I truely believe that quickbooks online just runs off the rails at times.  They made some alteration and did not cover all bases.

Rick

             Never Better

Thank you for joining this thread, rkbest47.

Let's go over some basic troubleshooting steps to help you create transactions seamlessly.

When your browser is clogged with frequently accessed page resources, it can cause unusual responses in QuickBooks Online (QBO), such as errors, blank pages, or buttons not working. Open your QuickBooks via incognito mode or private browsing. This will start with a fresh page and load new data. Follow the steps below to bring up one:

• Google Chrome: Ctrl + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P
• Safari: Command + Shift + N

Next, create the entry and add the new asset. If this works, clear the cache of your regular browsing to optimize its overall performance. Alternatively, open QBO using a supported browser to test if the issue is browser-related.

To learn about the different account types and how to customize your chart of accounts, click here. If you need more information on how to perform specific QuickBooks tasks or other accounting-related activities, follow this link to our online resources: Community guide. It covers topics such as account management, banking transactions, and cash flow management, to name a few.

Visit the Community again and tag my name if you have any further questions about setting up an asset account or other transactions. I'll be happy to help you further. Have a wonderful weekend.

Is there an updated tutorial to this? The options in the steps no longer apply. This is what is now available: 

• Chart of Accounts 
  • New 
    
    • Category Name
    • Select Category 
    • Description 

I do not see an option to select Track depreciation of this asset

Hi there, @jenn8five.

Can you share with me a screenshot of the page you're trying to access when creating a new account for asset depreciation? The section you're referring to is different from the interface that I'm seeing on my screen.

Any additional info would be much appreciated.

Please add your reply on this and I'll get back to you. Have a nice day.

There is no "fixed asset" or "other asset" option.

There is only "Current assets" or "Long term assets"

Let me share information about creating an asset account in QuickBooks Online (QBO), @Sparhawk.

The Fixed asset and Other asset selections from the Account Type are only available in the US version of QBO. Since these options aren't available in the Global version, you can use the long-term or non-current asset for the "Fixed asset" and the current asset for the "Other asset." Please know that a fixed asset is also known as a long-term, noncurrent, or capital asset. 

You can check out this article to know more about the chart of accounts: Learn about the chart of accounts in QuickBooks Online.

If you have other concerns or follow-up questions on creating accounts in QBO, don't hesitate to leave a comment below. I'll be around to provide more assistance.

Umm, i am in Australia and can see it.  Screen Shot Attached.

My question is, how to you run depreciation of the asset or do you have to run a manual spreadsheet?

Regards

Tim

Hello there, @Tim302. I appreciate your effort in following the steps provided by my colleague above.

I know an easy way too run this report. We can use the Fixed assets you just created when running that report.  You may proceed as follows:

1. In your Chart of Accounts, enter Depreciation in the search box.
2. Hit Run Report

Take a look at my screenshot below: 

I suggest browsing this link to Learn about the chart of accounts in QuickBooks Online.

Visit the Community again and tag my name if you have any further questions about this process or other transactions. I'll be happy to help you further. Have a wonderful weekend.

Is there a way to actually run the depreciation on the asset and post the depreciation costs, not a report showing me the balances?

It looks like this is just entered manually which means we need to run external registers;

Is this correct?

It's good to see new faces in the Community space, chanellec. Let me help you with your depreciation in QuickBooks Online.
 
QuickBooks Online (QBO) doesn't have the feature to automatically record the depreciation of assets. However, you can manually enter it using journal entries. Before doing it, ensure you already set up a depreciation account.

Here's how to create a journal entry:
 

1. Select + New. Then select Journal entry.
2. On the first line, select the asset account you use to track the loan from the Account ▼ dropdown. Enter the depreciated amount in the Credits column.
3. On the second line, select the Depreciation account you just created from the Account ▼ dropdown. Enter the same depreciated amount in the Debits column.
4. Select Save.

Additionally, you're correct about the external register. It's advisable to consult with your accountant as they are knowledgeable about the calculation methods you will be using.
 

Moreover, I've added these resources to help you monitor how your business is doing and ensure your books remain accurate:

• Run reports in QuickBooks Online
• Customise reports in QuickBooks Online

If you have additional questions about your depreciation in QBO, please post a Reply on this thread.