Good day, jkenfield.

QuickBooks Online (QBO) automatically tracks the current value and depreciation of your asset when creating the account. You might want to delete the journal entry created by the system since you'll be entering the purchase transaction of the asset.

On another note, you can create an expense and use the Fixed Asset account. You'll have to change the line 1 to Fixed Asset since an equity account was used to pay for the computer.

I'd recommend working with an accountant for better guidance in tracking your depreciation in QBO.

You'll want to check this article about recording the depreciation: Depreciate assets in QuickBooks Online.

Reach out to us if you have further questions. We'll be around to help.