HOME / COMMUNITY Switch to knowledge base

Assets & liability Accounts

Are all assets, for example, Plant & Machinery, property and vehicles, within Quick-file set up through journal transactions and not accounts, Plus is it the same for liabilities, all through journal transaction? with the exception of bank accounts which are set up within Bank accounts, Trying to learn my way through it. Gerry

Hi @germck58

You can enter the purchases as normal (by creating the invoice) and just assign it to an asset nominal code. These are shown with [Asset] after the nominal name:
image
These post it to the balance sheet rather than your profit and loss account.

Hope that helps :slight_smile:

This topic was automatically closed after 7 days. New replies are no longer allowed.