QBO – Land Contract Recording

QuestionsCategory: General QBO QuestionsQBO – Land Contract Recording
James asked 10 months 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 10 months ago

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

Your Answer

2 + 2 =