Fixed asset

This option is unique in that it refers to an asset you purchase, track, and may sell. As a result, the options available to be filled in on this screen assumes the asset is anything with monetary value (from vehicles, to land, to data servers). Take a look at the fields below for more information.

This item is available in QuickBooks Desktop only.

To add this as an item, you will need to add a new item within the Items app, and choose Sales Tax

If you do not see the Items app, you will need to get access permission for this app from your administrator. The Items app is found in the Accounting Lists Pack. 


  • Item name/number: This field can be used to identify the asset by name or by number.
  • Asset account: The account used to track the overall value of your fixed asset. These options come from QuickBooks.
  • Active fixed asset item: Click this option to ensure this item appears in the "Active" filter view in the Item list, and so it also appears in drop down lists throughout Method.
  • Acquired as new/old: Choose whether the asset was new or old when you purchased it.
  • Purchase description: Include any details about the purchase you feel are pertinent that aren't addressed in other fields of this screen.
  • Date: Identify the date of the purchase here.
  • Cost: Indicate how much the asset cost upon purchase.
  • Sales description: Include any details about the sale that aren't addressed in other fields of this screen.
  • Sales date: Identify the date the asset was sold.
  • Sales price: Indicate how much the asset sold for.
  • Sales expense: Include the amount the sale of the asset cost your organization (e.g. appraisal, lawyer, transfer of ownership fee's, etc).
  • Vendor Payee: Use this writable field to identify the vendor or payee from whom you purchased the asset.
  • Asset description: Describe the asset in this writable field.
  • Location: Identify the asset location here, if applicable.
  • PO number: If there was a purchase order number associated with the original purchase of your fixed asset, include it here.
  • Serial number: If there was a serial number associated with the original purchase of your fixed asset, include it here.
  • Warranty expires: If there is a warranty associated with the asset, either included during purchase or implemented prior to sale, indicate the expiry date in this field.
  • Notes: This section is for any additional information you feel is pertinent.
  • Save: Saves the new or edited item.
  • Save & New: Saves the new or edited item and clears the fields above.

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