Q: I just upgraded to the QuickBooks Premier Accountant 2011. I am trying to track assets for my rental units.
I added an Appliance to my fixed asset list. What happens if I purchase another appliance in February and March? Will they automatically be reflected in the Asset List?
A: The Fixed Asset is used in a productive capacity to help your business for longer than a year. The Fixed Asset List shows all of the fixed assets you have added and the changes in value. It will track all transactions that affect the value.
The added fixed assets will reflect in the same Asset List, as long as you select the same asset account at the time of entering the transactions in QuickBooks.