QuickBooks' Fixed Asset Item List

2011.0124

I just answered a question in the Intuit Community forums. The OP (original poster) wanted to know why fixed assets appearing in the Chart of Accounts didn't also appear in the Fixed Asset Item List. Here is my answer:

The Fixed Asset Item List is separate from the Chart of Accounts. In fact, the Fixed Asset Item List is not "connected" to anything. Although considered part of QuickBooks, it is a separate dataset that allows you to enter and retrieve fixed asset details not captured elsewhere in QuickBooks.

Because the Fixed Asset Item List is not connected to the rest of QuickBooks, you will have to manually update its information each time you add or remove a fixed asset from your company books or perform any other capital adjustments related to fixed assets. Further, the Fixed Asset Item List does NOT calculate depreciation or create a depreciation entry into QuickBooks.

Despite its shortcomings, I suggest you use the Fixed Asset Item List. It can provide you with quick access to individual fixed asset details.

Certain details from the Fixed Asset Item List can be retrieved via QuickBooks reports. These details can then be exported to Excel for further manipulation.