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In this tutorial, we discuss the fixed asset list in QuickBooks, noting that basic versions may not include this feature. Users have the option to use an add-on or upgrade to a higher version. The tutorial demonstrates accessing the fixed asset item list through the Accountant menu, showing details such as cost and accumulated depreciation. Two cost columns are highlighted: one indicating the original cost and the other, "cost SL basis," reflects any additional expenses incurred to make an asset functional, such as a $5,000 overhaul for machinery. The tutorial emphasizes that users can revise and adjust columns as needed for accurate asset management.