how to use Quickbooks fixed asset manager | Full details

1. All you Need to Know about Fixed Asset Manager in QuickBooks Fixed Assets Manager’s function is to calculate the fixed asset’s depreciation based on the IRS standards. QuickBooks Fixed Asset Manager has two accounts that keep track of the assets. One account keeps track of the asset’s cost, and another keeps track of the accumulated depreciation of your assets. This article will discuss the use and process to set up (FAM) Fixed Asset Manager in QuickBooks. You can get detailed and straightforward information about the Fixed Asset Manager in QuickBooks by dialing (855)-526-5749

2. Steps to use the Fixed Asset Manager in QuickBooks Desktop:

3. Step 2: to add or change depreciation setting

4. Step 3: how to depreciate an old asset If you already have fixed assets before you start using the Fixed asset manager, use the steps given below to record the fixed assets with the correct depreciation. In QuickBooks Desktop: Go to the List menu and choose Fixed Asset Item List Now, Click on Item Then click New Type the credentials required and click OK to close the New Item Window to finish the procedure.

5. In Fixed Asset Manager: When the Asset Synchronization log window open, Click OK Go to the Schedule tab and double-click on the asset you created Now, go to the federal column, and find the Prior Depreciation row Click on the amount displayed Adjust the AMT, ACE, Book, State, and other columns settings according to your needs At last, click on Save

6. Conclusion We hope the above article was helpful to you to know about the Fixed Assets Manager in QuickBooks. You can also get more detailed and more straightforward explanations about the Fixed Asset Manager by dialing (855)-526-5749 and getting in touch with a QuickBooks Professional. Source link