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Claws224, IEEE Network Engineer
Category: Networking
Satisfied Customers: 1256
Experience:  IEEE, Microsoft
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Need to add the value of equipment that is owned to the balance

Customer Question

Need to add the value of equipment that is owned to the balance sheet of Quickbooks
Submitted: 2 years ago.
Category: Networking
Expert:  Richard Hall replied 2 years ago.
Hello,My name is ***** ***** the equipment accounts setup??? Fixed asset, other asset, other current asset?It should fall under one of those balance sheet account types. By default any of those account types should pullto the balance sheet report. If not, the report could be analyzed to see what the problem is. Thanks,Richard
Customer: replied 2 years ago.
Richard, this is a simple accounting file. We are a local water company with only expenses being utilities, and some services.
We have to produce a Balance Sheet and Profit & Loss report for the year. We have never included the equipment, such as the Water tank, pumps and etc. All the equipment is paid for and has never been added to our Balance Sheet. How do we accomplish this, possibly by an opening balance entry? Thanks Gene
Expert:  Richard Hall replied 2 years ago.
Gene,So you have not recorded the equipment yet???That's ok. I can walk you through that, and once set up properly, it will automatically put it on the balance sheet for you.Thanks,Richard

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