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Status Answered
Created by AgExpert Support
Created on May 3, 2018

Disqus Agexpert Accounting Questions Archive

We bought a $700 toolbox and mounted it to our service truck. How do I enter this?

  • ADMIN RESPONSE
    Feb 10, 2025

    You'll want to add that as a capital asset purchase. Depending on when the truck was purchased (very recently?) it may be possible to enter the transaction such that you have the truck and toolbox as a single capital asset on your list. If the purchase was prior to the beginning of your current fiscal year then it will need to be entered as a separate capital asset from the truck. If that is the case, use Class 10 and try, with your naming to line it up with the truck somehow. That way when you sell or dispose of the truck it will be easier to remember to catch the toolbox in the same transaction. If the two items were purchased fairly close together then let me know and I'll write out instructions for that.

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