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Nicole_N
QuickBooks Team

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Welcome back, ROS RV. 

 

I appreciate you sharing your understanding of Inventory assets in QuickBooks. Allow me to share additional information about it and some insights about the Vehicle expense in the Chart of Accounts.

 

The inventory assets are already included in the default account. So since there are other inventory assets that were set up by accident, it's possible someone attempts to edit or deactivate that account. Doing so can recreate it.

 

About the Vehicle expense that is placed on other assets, it actually depends on the one who set it up. When someone created the Vehicle Expense category, it could be that he/she placed it on Other Expenses. You can change the type or detail type of an account as long as they don't have any subaccounts. For subaccounts, you must select the same account type as their parent. Here's how:

 

 

  1. Go to the Accounting menu and select Chart of Account.
  2. Search for the account (Vehicle Expenses), then click the ACTION drop-down list and click Edit.
  3. Choose the correct Account Type (Expense).


     
  4. Fill in the needed details and hit Save & Close once done.

 

If you need further assistance managing your chart of accounts, I recommend reaching out to your accountant for further advice. That way, we can ensure that your books are correct.

 

I'm adding these articles to learn more about how the chart account works: 

 


Keep your posts coming if you need more clarifications. The Community team is here to answer them for you. Take care!

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