Software: QuickBooks accounting software In Equipment Rental business, the equipment that you purchased are your assets, which you need to track the depreciation of it useful year. Besides, you need to keep track of the ins and outs of the equipment so to have a good feel of the stock availability. If you are using […]

Software: QuickBooks accounting software Usually, I preferred creating three accounts for each type of Fixed Asset. One will be the main account and two sub-accounts underneath for cost of Fixed Asset account and accumulated depreciation account. Example: Motor Vehicle (main account) Cost – Motor Vehicle (Sub-account) Dep Acc – Motor Vehicle (Sub-account) When purchased a […]

In QuickBooks Asia version, it does provide a Fixed Assets Item list for user to keep track of the Fixed Assets purchased. Personally, I do not like to use this Fixed Assets list provided by QuickBooks. I found that there is something crucial missing out from the Fixed Assets Profile – Depreciation information. Most of […]