Skip to main content

SUMMER SAVINGS 90% OFF QuickBooks for 3 months* Ends 8/27

Buy now
Switch to QuickBooks and 70% off for 3 Months
July 30, 2025
Question

How do I record owning land and building without recording the purchase?

  • July 30, 2025
  • 0 replies
  • 3 views
I recently took over the books for our church and switched from Excel to QBO. Because of this, I’ve started the QBO file January 1st which is the beginning of our fiscal year. The land and church building were purchased prior to this. How do I record the property as a long term asset and set up building depreciation in my chart of accounts? Without recording the actual building purchase.