QB Issue Resolution:
First the article, like many by intuit, has some errors in it.
In QBO or QBDT the process is
create in the chart of accounts a fixed asset type account named for the asset, then create two fixed asset type accounts as a sub accounts named cost-[name] and accumulated depreciation-[name]
You post the purchase of the asset to the sub fixed asset account cost-[name]. Parent accounts are summing accounts in QB and are not posted to
You record the depreciation with a journal entry
debit depreciation expense, credit accumulated depreciation-[asset name]
QB does not calculate depreciation, you have to do it manually
For a company taxed as a sole proprietor (schedule C) or partnership (form 1065), I recommend you have the following for owner/partner equity accounts (one set for each partner if a partnership)
[name] Equity (do not post to this account it is a summing account)
>> Equity Drawing – you record value you take from the business here
>> Equity Investment – record value you put into the business here
Resolution for Issue 'how to record fixed assets purchased in quickbook-USA? AND also how to record capital Brought in or Withdrawn?' available: Yes (Solved).
Source: Intuit Community forum.
how to record fixed assets purchased in quickbook-USA? AND also how to record capital Brought in or Withdrawn?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks.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 capital Brought
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for capital Brought [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: