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January 6, 2024
Question

Equipment bought on Facebook market place

  • January 6, 2024
  • 1 reply
  • 0 views

Hi

As i have just started my business I have bought a lot of equipment (mowers, blowers, trimmers, edgers, gas tanks) from facebook market place with no actual proof of purchase. I have a spreadsheet and tracked all the payments and brand names dates of purchase. Can i still enter these into qb online as equipment Assets as they all work and are used to carry out the work on daily basis? Would I enter it through Journal Entries?

I'm Florida Based

1 reply

Rainflurry
Level 11
January 7, 2024

@Mat-zook 

 

The entries depend on a couple of things: (1) are you a sole proprietorship?, and (2)  did you pay for the equipment using your business bank account or personally? 

 

Forgive me if you know this already but, it's best to get a simple bill of sale when you buy business assets on FB Marketplace just in case.  You can find free ones to print online or a free app for your phone.