Here’s How to Use Fixed Asset Manager in QuickBooks Desktop?
How To Manage Fixed Asset In QuickBooks?
To use fixed asset manager in QuickBooks, you need to follow the below-described steps carefully:
Assign An Account To Multiple Assets
You need to manually assign the accounts to the assets in FAM by following the below-given steps:
Open Fixed Asset Manager in the first place.
Next, in the Schedule tab, you need to highlight all the assets that need to be assigned to a specific account.
After that, right-click the selected asset and then choose Assign G/L Accounts to Assets.
Select the account and then hit OK to finish.
Modify Or Add The Depreciation Setting
To handle fixed assets in QuickBooks accurately, you may need to change or add the depreciation method, so that FAM can calculate the current and prior depreciation correctly.
Launch FAM and then from within the File menu, select Client Information.
Now from the Methods tab, select a suitable depreciation method for the depreciation basis.
Hit OK to confirm the changes you have made.
Depreciate An Old Asset
If your business already has old assets before setting up the FAM, you need to record your fixed assets with correct depreciation.
To Record Depreciation In QuickBooks:
First of all, choose Fixed Asset Item List from the List menu.
Now select Item and then further select New.
Provide the required information and then click OK to exit the New Item window.
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Victorian conservatories add curb appeal. This design beautifies the face of your home with some beauty while also adding more value to your property ...
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