So I purchased 2 pieces of equipment recently. Paid “cash” with my bank card. They are fixed asset items. I have created Fixed Asset accounts for the items in my Chart of Accounts. However, do I put zero as the Original cost and then “match” the item under “For Review” in “Banking” to the appropriate Fixed Asset? Or where/what should I record the bank record of the purchase under? If I enter an original cost under the fixed asset, then when I match the transaction to the fixed asset, the asset now has an “account balance” of twice what the cost was. Help would be appreciated.

QB Issue Resolution:

After writing my last response, I came to the solution in my brain. Suppose I was overthinking.

 

When I create the Fixed Asset account, I did not enter any financial values in any of the items and told it I wanted to track depreciation. It created 2 sub accounts, one being “Original Cost”. I then went back over to my banking transactions and put the purchase transaction of the equipment (mower) under the sub-account “Original Cost”. It now populates as that being the original cost and the banking transaction is no longer needing to be “matched”

Resolution for Issue 'So I purchased 2 pieces of equipment recently. Paid “cash” with my bank card. They are fixed asset items. I have created Fixed Asset accounts for the items in my Chart of Accounts. However, do I put zero as the Original cost and then “match” the item under “For Review” in “Banking” to the appropriate Fixed Asset? Or where/what should I record the bank record of the purchase under? If I enter an original cost under the fixed asset, then when I match the transaction to the fixed asset, the asset now has an “account balance” of twice what the cost was. Help would be appreciated.' available: Yes (Solved).
Source: Intuit Community forum.

So I purchased 2 pieces of equipment recently. Paid “cash” with my bank card. They are fixed asset items. I have created Fixed Asset accounts for the items in my Chart of Accounts. However, do I put zero as the Original cost and then “match” the item under “For Review” in “Banking” to the appropriate Fixed Asset? Or where/what should I record the bank record of the purchase under? If I enter an original cost under the fixed asset, then when I match the transaction to the fixed asset, the asset now has an “account balance” of twice what the cost was. Help would be appreciated.: 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 Banking For Review - Equipment
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!

Error Recovery for Banking For Review - Equipment [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.

Click Here for 50% off!

Additional Support Options:

• Banking For Review - Equipment
• QBO
• Reports and accounting