Wash

[Josiane]

Hello:

A company car was bought in April for $4000. But in May the car was sold for the same amount of money. How can I do a wash in QuickBooks?

Thanks!
Josi

[cojhl2]

You post it exactly as it happened. for instance you wrote a check for the car (asset) offset your bank account, then later deposited money to the bank and offset that Dr with the asset..

Your accountant at tax time may want to worry about your disposal of a fixed asset although I would guess he/she will chose to gnore it since it was on the books for shuch a short time.