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Creating a fixed asset item from a transaction

You can record information about your asset as you pay for it from any one of the following:

  • Items tab of the Enter Bills window

  • Items tab of the Write Checks window

  • Items tab of the Enter Credit Card Charges window

  • Item column of the Purchase Order window

Note: Transactions using fixed assets do not support QTY or Quantity.

To do this task

  1. If available, click the Items tab.

  2. Select in the Item column and select Fixed Asset as the item type.

  3. In the Asset Name/Number field enter an identifying name or number for your fixed asset.

    What you enter here appears on fixed asset item reports. Enter a name or number that will help you distinguish this item from all others on the list.

  4. Click the Asset Account drop-down list and choose an asset account, or create a new one.

  5. Enter purchase information:

    • Purchase Description: Enter a brief description of the purchase of your fixed asset.

    • New/Used: Select whether your asset is new or used.

    • Date: Enter the date you purchased your fixed asset, or click the pop-up calendar icon to the right of the field and select one. Today's date is selected by default.

    • Cost: Enter the cost of your fixed asset.

    • Vendor/Payee: Enter a brief description of your fixed asset.

      Important: The Vendor/Payee name is not saved to your Vendor list when you save this transaction. Click Vendor Center and add the vendor there if necessary.

  6. (Optional) Enter asset information

    • Asset Description: Enter a brief description of your fixed asset.

    • Location: Enter a location; for example, if your asset is real estate, enter an address. If your business has more than one location, enter where your asset has been placed into service.

    • PO Number: Enter the number of the purchase order you used to purchase your asset, if applicable.

    • Serial Number: Enter the serial number of your asset.

    • Warranty Expires: Enter the date the warranty for your asset expires.

    • Notes: Enter any notes concerning your asset that you want to track.

  7. Leave the sales information blank and click OK.

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