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Kass_B - Product Champion
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Hi waterlake,

 

When creating a Fixed Asset account type and selecting the box 'Track depreciation of this asset', QuickBooks will automatically create two subaccounts: one to track the cost, and one to track the depreciation. There are three exceptions to this:

 

  • when selecting Detail Type 'Accumulated depletion', there is no option to tick 'Track depreciation of this asset' and no subaccounts are created
  • when selecting Detail type 'Accumulated depreciation on property, plant and equipment' there is no option to tick 'Track depreciation of this asset' and no subaccounts are created
  • when selecting Detail Type 'Intangible Assets', the option changes to 'Track amortisation of this asset' (the system will still create two subaccounts however)

 

If you are selecting any other Detail Type and ticking the track depreciation box prior to saving, the subaccounts will be automatically created. If you do not immediately see these accounts, try refreshing the page or clearing your browser's cache, then locate the Fixed Asset account you just created as the subaccounts will display immediately below this. If you still don't see the accounts showing, I'd suggest reaching out to our Support Team directly so they can view your Chart of Accounts setup and assist further:

 

  1. In your QuickBooks Online, click the Help menu in the upper-right corner.
  2. Select Contact us and enter the details of your concern.
  3. Click Let's talk and choose Chat or Get a callback.
  4. Enter the required information.
     

-Kass