Comments on: QuickBooks Fixed Asset Items: A Quick Tutorial

By: Melissa rothe

Melissa rothe — Tue, 10 Apr 2018 16:52:11 +0000

In reply to Steve.

Hi Steve – thanks for the great article. I have my fixed Asset report and it looks good,. One question – is there a way to separate leasehold improvements and FFE on the fixed asset report? I have played with filters etc but my report keeps coming out with one big listing. I need to submit this with the different accounts (FFE vs Lease Improvements) separated. Thanks!

By: Steve

Steve — Wed, 04 Apr 2018 17:32:55 +0000

In reply to Amanda Records.

Hi Amanda,

Your situation will be a little tricky to clean up. I think you want to confer with your CPA.

Steve

By: Amanda Records

Amanda Records — Tue, 03 Apr 2018 08:47:24 +0000

I purchased all my fixed assets with a CC and had already entered that info in QB before seeing this post. I have since followed the first step to add the fixed assets list. Is there a way to match up with the CC purchase or do I need to delete those and reenter as a check, even though that is actually a different account and will affect my book keeping balances. Thanks!

By: Steve

Steve — Tue, 27 Mar 2018 22:33:50 +0000

In reply to Bill St. Antoine. Use the Fixed Asset List, available from the List menu.

By: Bill St. Antoine

Bill St. Antoine — Mon, 05 Mar 2018 14:32:01 +0000

How do I generate a fixed asset REPORT in Quickbooks Pro?

By: Steve

Steve — Wed, 21 Feb 2018 14:30:30 +0000

In reply to Rebecca.

Rebecca, so I think the first thing to ponder is whether these livestock are fixed assets (like milk cows in a dairy farm or chickens laying eggs you sell) or inventory (steers you sell to a packing plant or chickens you sell to, hmmm, Tyson or whomever).

Inventory you would not set up as a fixed asset. And you might even *not* track inventory by individual item. But in batches.

If you truly have fixed assets though–bulls you use for breeding say–I would think you set them up as fixed assets in the usual way. And if you buy a bull, say, you record the purchase price as its original cost. And if you “make” a bull, you record the purchase cost as zero (since in effect all the costs of making the bull are probably already expensed.)

A closing caveat: I’m not a “farm and ranch” tax accountant and I’m sure there are lots of industry-related issues and regulatory requirements that impact the record-keeping and which may tie into the bookkeeping. I don’t know about these other, probably bigger issues. (Sorry.)

By: Rebecca

Rebecca — Sat, 17 Feb 2018 23:08:15 +0000

I have quickbooks for my farm and not sure where I should enter my livestock some where purchased while others were born here.

By: Beth Nelson

Beth Nelson — Mon, 05 Feb 2018 17:34:03 +0000

In reply to shelley.

Hi Shelley,

I think you’re referring to the first image in this post; if so, you can reach that screen by first, clicking “Lists” in the top navigation menu (it’s the fourth option, between “View” and “Favorites”). Next, click “Fixed Asset Item List.”

After that, look to the lower left corner of the window. You should see a button that says “Item”, with a downward arrow on it. Click that button, then click “New.” This will bring you to the screen that’s the first image in this post.

Hope this helps!

By: shelley

shelley — Sun, 04 Feb 2018 18:37:49 +0000

I set up Fixed Asset accounts, but now I can’t go into those individual accounts and put in all the information on the screen that is shown above. How do I get to that screen? Or do I have to start all over and create a new account for each of the Fixed Assets?

By: Kathleen Plyter

Kathleen Plyter — Tue, 28 Nov 2017 16:36:13 +0000

Hello, I am creating a credit for a fixed asset item and receiving the message “Fixed asset item must have a quantity of one”. In the items tab there is already a 1 for Qty. What do I need to do to be able to save the credit?