View Single Post
Old 09-03-2004, 11:42 AM
emilioda emilioda is offline
Junior Member
Join Date: May 2004
Location: texas
Posts: 6
Thanks for all the replies and suggestions. I will try to implement some of these and see if they work out.

My next dilemma is fixed assets and depreciation. I basically lack the knowledge on how this all flows (with or without QBs). Here is how I think it works... (please correct anything that is questionable or wrong).

Let's work with a vehicle. I purchase a truck and set up a fixed asset account for the value of the truck (purchase price or actual value?). I then use the loan manager and set up the loan. I now make payments against the loan and the principal gets posted to what account? The interest gets posted to an ineterest expense account.

Where does depreciation fit in and when does it get applied?
Reply With Quote