If your tools are going to be depreciated, then you list them as fixed assets in the chart of accounts, this is normal for high dollar shop equipment.  But a $100 skill saw I would book as an expense.

Resolution for 'Are tools I purchase for use in my shop considered inventory issue: 'Are tools I purchase for use in my shop considered inventory? I have an auto restoration shop, and purchase tools for use from a local vendor. I want to keep track of these tools for loss and depreciation purposes. How do I enter them when entering a bill from the vendor?' available: Yes.

The Are tools I purchase for use in my shop considered inventory 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 Are tools I purchase for use in my shop considered inventory issue yourself by looking for a resolution described in the article. If it is a complex Are tools I purchase for use in my shop considered inventory issue or you are unable to solve the issue, you may contact us by clicking here or by using other Are tools I purchase for use in my shop considered inventory support options.

For more information about resolving issues related to Are tools I purchase for use in my shop considered inventory in Quickbooks/QBO or to get support for the issue 'Are tools I purchase for use in my shop considered inventory? I have an auto restoration shop, and purchase tools for use from a local vendor. I want to keep track of these tools for loss and depreciation purposes. How do I enter them when entering a bill from the vendor?', click the link below: