How to Use QuickBooks Fixed Asset Manager - QuickBooks Enterprise

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Call brief
The Fourlane expert discussed the key features and setup process of the Fixed Asset Manager module for QuickBooks Enterprise, including tracking asset purchases and sales, calculating depreciation, and generating reports. The presentation covered recording new asset acquisitions, managing depreciation schedules, and synchronizing fixed asset data with the QuickBooks financial records, providing a comprehensive overview of the module's capabilities to help businesses efficiently manage their fixed assets.

Key points
1. Laura introduced the Fixed Asset Manager module for QuickBooks Enterprise, which helps businesses track and manage fixed assets and depreciation.
2. She demonstrated setting up fixed assets like a 2024 Ram truck ($85,000) and a Dell laptop ($2,500) in the QuickBooks desktop and Fixed Asset Manager.
3. Laura showed how to record asset purchases, set up loan accounts, and post depreciation entries from Fixed Asset Manager to QuickBooks.
4. The Fixed Asset Manager allows users to track asset disposals, with the system calculating any gains/losses.
5. The Fourlane expert reviewed various reporting options in Fixed Asset Manager, including by GL account, asset category, and future projections.
6. The Fixed Asset Manager seamlessly integrates with the QuickBooks desktop, allowing users to view and customize fixed asset listings.
7. Key setup steps include selecting depreciation methods, accounts, and asset groupings, which should be done in consultation with an accountant.
8. The system can be set to automatically sync new asset additions and changes between QuickBooks and Fixed Asset Manager.
9. Users can prepare for the new year by closing out the current year in Fixed Asset Manager.
10. Overall, the Fixed Asset Manager provides a centralized and automated solution for tracking fixed assets and depreciation.

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