QB Issue Resolution:

When you create the expense transactions, you’ll need to make sure they affect theĀ asset accounts (Fixed Assets, Other Current Assets, etc.).

  1. Open the expense transaction and go to the Category details section.
  2. Make sure you select the correct account in the CATEGORY column.
  3. Click Save and close.

If you have entered the expense details through the Item details section, you’ll need to make sure they are set up correctly.

  1. Click the Gear icon in the upper-right corner and select Products and Services.
  2. Look for the said item and click Edit.
  3. In the Purchasing information section, enter the correct account in the Expense account field.
  4. Click Save and close.

Resolution for Issue 'Equipment Purchases as an asset?' available: Yes (Solved).
Source: Intuit Community forum.

Equipment Purchases as an asset?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Equipment Purchases
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Error Recovery for Equipment Purchases [Canada]
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