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In this article you will learn how to use Fixed Asset Manager in QuickBooks Desktop. To know more call QuickBooks customer care.

Follow the steps given below and get started with tracking your fixed assets!

Assign an account to multiple assets

If you are importing assets into FAM or converting asset data from one version of QuickBooks Desktop to another it may leave some General Ledger accounts (G/L accounts). In such a case you they need to be manually assigned in FAM.

Change or add depreciation method/setting

To calculate the current and prior depreciation correctly you will have to change or add the depreciation method for a fixed asset for FAM.

  • Open Fixed Asset Manager.
  • Select Client Information from the File menu.
  • Select the appropriate depreciation method in the methods tab for the depreciation basis.
  • To save the changes, click on OK.

Depreciate an old asset

Even before you decided to use FAM your business may have some fixed assets. So, follow the steps given, record your fixed assets along with correct depreciation.

In QuickBooks Desktop

  • Choose Fixed Asset Item List from the list menu.
  • Click on Item, and then click on New.
  • Enter the information which is to be added and then select OK .The New Item window will close.

In Fixed Asset Manager

IMPORTANT

  • The prior depreciation will be grayed out if a current date is entered in the Date placed in service field.
  • The amount of depreciation booked in previous years is necessary to know before continuing. Contact QuickBooks Support accountant for guidance if you do not know this information.
  • When the Asset Synchronization Log window opens, click on OK.
  • Double-click the asset you created in the Schedule Tab.
  • Scroll down to the Prior depreciation row in federal column and then select the amount displayed.
  • By adjusting the AMT, ACE, Book, State, and Other columns make the changes which are needed.
  • Click on Save.

Read the article further to learn how to connect and disconnect app in QuickBooks. To know more call QuickBooks Customer Care.

How to Connect an app in QuickBooks?

  • Sign in to your QuickBooks account
  • On left navigation bar, select the Apps tab
  • Find the app you want to connect to your QuickBooks account
  • Choose the App
  • Click on Get App Now
  1. The button will display Opt-in Now if the app is in beta testing.
  2. The button will display Learn More if you need to connect the app from within their system.
  • To connect the app to your QuickBooks account, authorize the app.
  • Now, set up the app settings to your choice and follow the remaining steps to connect the app.

How to Transfer an App Connection to another User?

  • Sign in to your QuickBooks account.
  • On the left navigation bar, click on the Apps tab.
  • Find the app you want.
  • From the search results, choose the app name.
  • Select the Get App Now button
  • Review the message details
  • Select Connect anyway when you are ready
  • Now, adjust the settings for the app according to your will

How to disconnect an app?

If you are the user, who connected the app.

  • From the left menu, choose Apps.
  • At the top, click on Firm apps.
  • From the Action drop-down, select settings.
  • Click on Disconnect.
  • Fill in the given questionnaire.
  • To remove the app from your company file click on disconnect.

If you are NOT the user, who connected the app.

  1. In case you need to take over the connection from another user

 Note: You have to be an admin user In order to take over the app; you have to be an admin user.

  1. From the left menu, select Apps.
  2. Find the app you want.
  3. Click on the app, and then select Get App Now.
  4. Review the details of the message and then select Connect anyway.
  5. Adjust the settings accordingly.
  6. Be sure that the app is now associated to your user ID.
  7. Steps to disconnect the app which is associated with your user ID.
  8. From the left menu, choose apps.
  9. At the top, click on Firm apps.
  10. From the Action drop-down, select settings.
  11. Click on Disconnect.
  12. Fill in the given questionnaire.
  13. To remove the app from your company file click on disconnect.

Read the article further to learn how to combine reports from two or more company files. To know more call QuickBooks Customer Care.

Please take a note of the following things before you combine reports:

Make your Chart of Accounts in the several company files as nearly identical as you can to make combined reports easier to read.

Accounts will only be combined if they are of same type having same names or are at the same hierarchical level in every report. (Please make a note that Account names are not case sensitive.)

Accounts which will not be combined are:

  • Accounts at different hierarchical levels.
  • Accounts having spelling differences.
  • Accounts having different account numbers.
  • One with an account number and one without an account number.
  • Accounts which are listed by type.

Option 1: By using built-in combined reports feature in QuickBooks Desktop Enterprise

With the help of QuickBooks Desktop Enterprise’s built-in feature you can combine reports from multiple company files. You can combine the following reports using this feature:

  • Balance Sheet Standard
  • Balance Sheet Summary
  • Profit & Loss Standard
  • Profit & Loss by Class
  • Statement of Cash Flows
  • Trial Balance

Follow these steps to combine reports:

  • Select Combine Reports from Multiple Companies from the QuickBooks Reports menu.
  • Locate the other company file in add file and click on Open. Repeat this for additional files.
  • Select the reports for which you want to see combined information in the Select reports for combining section.
  • Complete the remaining form and to date range fields in order to set the report date range.
  • Choose a report basis.
  • Click on Combine Reports in Excel. A Microsoft Excel spreadsheet will open containing the combined information.

Option 2: By using a third-party software

The Intuit Marketplace which offers its customers a variety of utilities which work with QuickBooks Desktop. Some of these programs help in producing combined reports from multiple company data files. You have to use Option 3 if you are currently using QuickBooks mac desktop version as it does not work with marketplace programs.

Option 3: By manually exporting reports from each file and combine using Microsoft Excel

  • Firstly, open your first data file.
  • Now, you need to create the report for this data file.
  • Save the workbook after exporting the report to a worksheet in an excel worksheet.
  • Now, close first data file and open the second one.
  • In the second data file, create the same report.
  • In the same workbook export this report to a new worksheet and click on save.
  • Open Microsoft Excel and then open the workbook.
  • Combine the two reports into a third worksheet manually.
  • Save this workbook.

To know more on how to use fixed asset manager and combine reports in QuickBooks desktop, call on our QuickBooks Customer Care . You can also write to us at support@qbooks247.com. For more information visit – www.qbooks47.com.

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