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this video covers fixed assets fixed assets are things like vehicles equipment and furniture that you use for your business you keep a list of these items so that you can track depreciation the initial cost to purchase the item and the loss or gain if you ever sell it tracking the cost of fixed assets affects the worth of your business and the size of your tax bill so a quick definition here depreciation is used to expense the price of a fixed asset over time since fixed assets generally have long-term value when operating a business for this video open the working file called land works underscore lists in the video covering the chart of accounts you learned about setting up accounts to track a new asset and we created an account for the nice blue car now well add the car to the fixed asset list go to the list menu and choose fixed asset item list now first I dont like how all these columns are scrunched up so Im going to open this up a bit okay to add a new asset go to the item me
