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Tracking Assets in the Fixed Asset List

Tracking Assets in the Fixed Asset List

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.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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