How to Record a Vehicle Purchase in QuickBooks?

How to Record a Vehicle Purchase in QuickBooks?

QuickBooks Pro is a tracking tool that offers you a business vehicle to make a list of your company vehicles and tracks business vehicle mileage. It helps you in tracking various information related to your company miles and maintains cost. In this blog, we will describe the advantages of adding vehicles in QuickBooks Pro and explain how to record a vehicle purchase in QuickBooks, the ways to track vehicles mileage in QuickBooks Pro and how to track office equipment in QuickBooks Pro.

What are the Benefits of Adding Vehicles in QuickBooks Pro?

We have discussed the benefits of setting up a vehicle in QuickBooks pro as follows:

  • Once you have added vehicles in QuickBooks pro, you get a feature “add employee information” that helps you in paying back the traveling expenses.
  • You will be able to maintain the record of every mileage transactions.
  • The feature of Double-entry bookkeeping helps you in calculating the account balance from an account.
  • You can track the office equipment by using “Fixed Asset Item List”.
  • By setting up a vehicle in QuickBooks, you can update the user’s list with the IRS’ mileage rates.
  • QuickBooks offers four different mileage reports like job details, job summary, vehicle details, and vehicle summary.

How to Record a New Vehicle Purchase in QuickBooks Pro?

Follow the steps written below to record a new vehicle purchase in QuickBooks Pro-

  • Select the customer and vendor profile
  • Now, choose the Vehicle list.
  • In the Vehicle list window, select
  • In the menu, click “New”.
  • Now, type your vehicle name in the text box.
  • In the description text box, write a description of your vehicle.
  • Find the vehicle according to the manufacturing year.
  • You can enter more identifying information.
  • Click on OK to save the description.

Also Read: How to Troubleshoot QuickBooks Error 6094?   [xyz-ihs snippet=”consult-button”]

How to track vehicles mileage in QuickBooks Pro?

Following steps will help you in tracking vehicle mileage in QuickBooks Pro:

  • In the menu, select ‘Company’ and click on ‘Enter Vehicle Mileage’.
  • Now, choose a vehicle that you want to record the mileage related to.
  • Enter both the starting and the ending date for each transaction of mileage.
  • You have to offer the mileage reading of the vehicle. QuickBooks Pro helps in calculating the total mileage.
  • Select the “Billable” for billing a customer.
  • Open “Customer: Job” and “Item” list and select the mileage you want to bill to your customer.

How to track Office Equipment in QuickBooks Pro?

After knowing, how to track vehicles mileage in QuickBooks Pro, we have described the following steps that will guide you in tracking the office equipment in QuickBooks Pro:

  • In the menu, go to the “Lists” and select “Fixed Asset Item List”.
  • Now, fill the details of your equipment.
  • In the details, you have to fill the equipment number, serial number, date of purchase, total cost and enter whether your equipment is new or old.
  • You can also add more information regarding your equipment like the location of the equipment, warranty expiration date, purchase order number, etc.

We are hoping that we have given you all the necessary information that you are searching about how to record a vehicle purchase in QuickBooks and have also described the steps to track the vehicle mileage and the office equipment. In case, if you are facing any issues in adding vehicles in QuickBooks Pro then, you are free to contact us immediately on our Toll-Free QuickBooks ProAdvisor Support Number.