It’s our pleasure to help, krucki.
Yes, you can create a fixed asset account where the equipment will be posted. Fixed Assets are the purchased items for long-term use.
Here's how to create an account:
- Go to the Gear icon at the top.
- Under Your Company column, choose Chart of Accounts.
- On the top right, select New.
- From the Account type, select either Fixed Asset.
- Select the detail type that best describes the asset.
- Name the account.
- If you mark the Track depreciation of this asset box, the system will automatically create a Depreciation sub-account for the item.
- Fill in the original cost fields.
- Select Save and Close.
For additional information, you can refer to this article:
You can also check with your accountant for guidance. This way, we ensure the accuracy of your books after recording this.
Please click this article on how to set up a particular account to manually track depreciation using journal entries: Depreciate assets in QuickBooks Online.
You can always get back to us if ever you have other questions or concerns in the future.
