How to set up fixed assets on chart of accounts

Hi VT59,

Welcome to Community!  QuickBooks Online let's you create an asset account in your Chart of Accounts, so you can easily track the current value and depreciation of your company assets.  I'd be happy to help!

Here's how to set up an asset account:

1. Open your Settings ⚙, then select Chart of Accounts

2. Hit New

3. For the Account Type, select Property, plant and equipment, from the ▼ dropdown menu 

4. From the Detail Type ▼ dropdown, select the option that closely describes the asset

5. Give the account a Name, then select the Track depreciation of this asset checkbox

6. Enter the current value of your asset in the Original cost field and the As of date. If recording the loan, leave this blank.

7. When you're done, select Save and Close.

Here's a helpful guide to assist with recording the depreciation.

If you have any other questions, please don't hesitate to reach back out.  We're always glad to assist!