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What's important about the New, Edit Fixed Asset Item window

Use this window to add new fixed assets to your Fixed Asset Item list and to change information about fixed assets already on the list.

On the form

Type

The type of item. Must be Fixed Asset.

Asset Name/Number

Enter/edit an identifying name or number for your fixed asset; for example, 739 Barker St. for a rental property or Truck #5 for a new addition to a fleet of tow trucks. This value must be unique.

Asset Account

Click an asset account for your asset from the drop-down list or choose New to create a new one.

Purchase Information

In this section, enter or edit information about the purchase of your asset.

Purchase Description

Enter/edit a description of the purchased asset.

New/Used

Select whether the item is new or used. This will aid in calculating depreciation.

Date

Enter/edit the date you purchased the asset, or select a date from the pop-up calendar.

Cost

Enter/edit the asset's purchase price.

Vendor/Payee

Enter/edit the name of the vendor from whom you purchased the asset.

Important: The Vendor/Payee is not saved to your Vendor list when you save this fixed asset item to your Fixed Asset Item list. Click Vendor Center and add the vendor if necessary.

Sales Information

In this section, enter or edit information about the sale of your asset when you sell it.

Item is sold

Select this checkbox when you sell the asset. This enables you to enter information in the rest of the fields in this section.

Sales Description

Enter/edit a description of the sale of the asset. When you select Item is sold the purchase description appears in this field for you to edit.

Sales Date

Enter/edit the date you sold the asset, or select a date from the pop-up calendar.

Sales Price

Enter/edit the amount for which you sold the asset.

Sales Expense

Enter/edit any expenses incurred during the sale.

Asset Information

In this section, enter or edit information about your asset, such as any improvement costs or when the warranty (if any) expires.

Asset Description

Enter/edit any description of the asset—maker, brand, and so on.

Location

Enter/edit information about where the asset is located or has been placed into service.

PO Number

Enter/edit the purchase order number if you used a purchase order to buy the asset.

Serial Number

Enter/edit the serial number of the asset. For a vehicle, enter the VIN.

Warranty Expires

If applicable, enter/edit the date the warranty for the asset expires, or select a date from the pop-up calendar.

Notes

Enter any notes about the asset you feel you might need to track it properly, such as notes about repairs or upkeep.

Buttons

Next

Click to save the current fixed asset and clear the fields so you can create another fixed asset.

Custom

Click to create a custom field you can use to track whatever information you need.

Spelling

Spelling

If your accountant uses QuickBooks Fixed Asset Manager to manage your assets

If your accountant uses QuickBooks Fixed Asset Manager to manage your fixed assets (for example, calculating depreciation), and has added information from Fixed Asset Manager to your QuickBooks file, four more fields are visible on the right side of the Edit Fixed Asset Item window. These fields are based on data from the Fixed Asset Manager. You can't edit them.

Fixed Asset Manager Asset Number

The number used by the Fixed Asset Manager to identify your asset.

Cost/Basis

The total cost of your fixed asset. This can include the cost of improvements or repairs. This amount is used to figure depreciation.

Year-End Accumulated Depreciation

This is the total amount of depreciation expense since the fixed asset was acquired as of the end of the year, based on Fixed Asset Manager information.

Year-End Book Value

This is the asset's cost or basis less accumulated depreciation as of the end of the year, based on Fixed Asset Manager information.

KB ID# H_F1_FA_ITEMEDIT
12/4/2016 12:10:34 AM
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