Asset Type configuration when connected to QuickBooks Online

  1. Navigate to the Admin page by clicking the cogwheel icon
  2. Expand the Set up your asset types section 
  3. Click Add a New Asset Type

  1. Enter the name of the asset type in the Description field
  2. Set a default depreciation schedule for the asset type (recommended).  If you don't wish to set do so, simply leave the settings as they are with the selections set to None.

  • Keep in mind the default method and term/rate can always be changed on an asset-by-asset basis.
  • Entering default depreciation schedules saves time if consistently using the same method and term/rate for an Asset Type.
  1. Map the Fixed Asset, Depreciation and Accumulated Depreciation account fields to your corresponding GL accounts.
  • When the Filter Accounts checkbox is selected, only accounts recognised as fixed asset accounts will appear. To choose from a list of all gl accounts, untick this box.
  • Click the Refresh Accounts button if accounts in your GL have recently been added or updated and Asset. Guru will provide those as available account selections.

  1. Click Confirm
  2. Repeat for all Asset Types

To edit and map the Asset Type to your accounts, simply click on the Edit button.

The following window will appear with allowing to enter/change the Description along with allowing to change the mapped the Fixed Asset, Depreciation and Accumulated Depreciation accounts.

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