how to use Quickbooks fixed asset manager | Full details

1
All you Need to Know about Fixed Asset Manager in
QuickBooks
Fixed Assets Managers function is to
calculate the fixed assets depreciation based on
the IRS standards. QuickBooks Fixed Asset Manager
has two accounts that keep track of the assets.
One account keeps track of the assets cost, and
another keeps track of the accumulated
depreciation of your assets. This article will
discuss the use and process to set up (FAM) Fixed
Asset Manager in QuickBooks. You can get
detailed and straightforward information about
the Fixed Asset Manager in QuickBooks by dialing
(855)-526-5749
2
Steps to use the Fixed Asset Manager in
QuickBooks Desktop

• various steps are required to use the
  Fixed Asset Manager in QuickBooks. The detailed
  instructions to use the Fixed Assets Manager are
  mentioned below
• Step 1 Assign an account to multiple assets
• When you import asset data into fixed asset
  manager or from one version of QuickBooks to
  another, it may leave general Ledger accounts,
  which require to be manually assigned in Fixed
  Asset Manager.
• First, open the Fixed Asset Manager
• Then, under the schedule tab, highlight the
  assets which must be assigned to a specific
  amount.
• Now, right-click the chosen assets and click on
  Assign G\L accounts to assets.
• In the assign G\L accounts, click on an account
• At last, click OK

3
Step 2 to add or change depreciation setting

• Go to the Fixed Asset Manager
• In the File menu, click on Client Information.
• Now go to the Methods tab and choose the
  depreciation method for the depreciation basis
  accordingly.
• At last, click OK to save the changes you just
  made.

4
Step 3 how to depreciate an old asset

• If you already have fixed assets before you
  start using the Fixed asset manager, use the
  steps given below to record the fixed assets with
  the correct depreciation.
• In QuickBooks Desktop
• Go to the List menu and choose Fixed Asset Item
  List
• Now, Click on Item
• Then click New
• Type the credentials required and click OK to
  close the New Item Window to finish the procedure.

5
In Fixed Asset Manager

1. When the Asset Synchronization log window open,
   Click OK
2. Go to the Schedule tab and double-click on the
   asset you created
3. Now, go to the federal column, and find the Prior
   Depreciation row
4. Click on the amount displayed
5. Adjust the AMT, ACE, Book, State, and other
   columns settings according to your needs
6. At last, click on Save

6
Conclusion
We hope the above article was helpful to you
to know about the Fixed Assets Manager in
QuickBooks. You can also get more detailed and
more straightforward explanations about the Fixed
Asset Manager by dialing (855)-526-5749 and
getting in touch with a QuickBooks Professional.
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