5 days ago
Entering an invoice for the purchase of an asset - furniture
Hi everyone,
I'm trying to enter a purchase of $5,000 worth of furniture. I need this recorded as an asset as we will be depreciating this cost. I have tried entering the invoice as a purchase but when I choose the asset account number 1-2210 Furniture at cost to allocate to, I get this message:
Just to be clear, the cost of the furniture is not being fully expensed and we are not selling these items.
Can anyone advise where I am going wrong?