@Longoriasbuilding 

"Our owner purchased and paid for in full for a truck prior to opening his business. I believe it was recommended to add it to the fixed assets, but I am confused on how to do so if he purchased it with personal funds prior to opening the business."

Ignore the post from @RCV .  It looks like an AI-generated post.

Adding the truck as a fixed asset of the business shouldn't be done unless the truck is used 100% for business use.  It also depends on what type of business this is - sole proprietorship or S-Corp or ???  When an owner contributes personal property to a business, it should be recorded at fair market value (FMV) as of the day the vehicle is contributed to the business, not at cost (what the owner paid for it).  The FMV is entered as a fixed asset and is offset with an equal amount to the owner's equity account.  The journal entry to record this is a debit to the vehicle's fixed asset account and a credit to the owner's equity account at FMV.  If this is a sole proprietorship, use their 'Owner's Capital' or 'Owner's Contribution' equity account.  If this is an S-Corp, use their 'Shareholder Contributions' equity account.  It's a good idea to run a blue book value report so you have something to substantiate the value of the vehicle for your records.