QBO – Land Contract Recording

QuickBooks Help QuestionsCategory: General QBO QuestionsQBO – Land Contract Recording
James asked 1 year ago

Hello do you have any tutorials on inputing a Building that was purchased on a Land Contract?  
 
No loan was taken out, how could this be recorded as an asset in QBO?  Should it be recorded as an asset?

admin Staff replied 1 year ago

Yes, land should be recorded as fixed assets category type. Unlike most fixed assets, normally land is not subject to depreciation.

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