Just wondering how I go about entering a quota purchase in transactions? Capital Asset?
Hi Leslie! You're on the right track, what I've seen is quote getting entered as a general asset. I think if I were doing it myself, I'd use Capital Assets and group it up in that section of my Asset accounts. There is no "class" attached to quota as far as I know, but it now does depreciate on 100% of the asset value so you can handle it just like the other capital assets as far as calculating and posting depreciation.