Fixed asset

QuickBooks Period End Tasks: The Accounting Side – Chpt.2

Continuing on from Chapter One and the QuickBooks Period End Tasks, I will now look at the Prepaid Expenses and Fixed Assets. Prepaid Expenses – this account needs to be reviewed at the end of each fiscal year, due to the fact that these expenses are ever evolving. You may find items like prepaid rent, insurance and deposits, just to name a few, that if not expensed throughout the fiscal...

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Tracking Fixed Assests in QuickBooks made Easier

I recall working for a company that had eight computers, a number of printers and a server. Besides that, they also had various software, office furniture and equipment, machinery and equipment related to their type of industry, and a small fleet of trucks. As you can image, there was a lot to keep track of. Now one way of tracking all this would have been through an Excel spreadsheet, but the...

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How to Track Depreciation with QuickBooks Asset Accounts

I am not going to delve into the accounting side of depreciation, but I will show you how to track it. The depreciation that I am speaking of has to do with Fixed Assets. The rule of thumb that I use to capitalize fixed assets, are those priced above $500 and the type of asset it is – otherwise I would expense it. These days assets such as computers are depreciated 45% in the first year,...

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