Lecture 13 Script: "How to Check if Machinery is Recorded in the Balance Sheet in QuickBooks"
Welcome to Lecture 13 of our QuickBooks training series!
In this lesson, we’ll show you how to verify if your newly purchased machinery is properly listed in the Balance Sheet — so you can be sure your fixed assets are accurately reflected in your financial reports with mosarat sediqi
📌 Scenario Recap:
In Lecture 11 and 12, we recorded machinery worth $1,340,600 USD using a journal entry.
Now, let’s verify if this amount appears in the Balance Sheet under Fixed Assets.
🧾 Step-by-Step Guide:
✅ Step 1: Go to the left-side menu and click Reports
✅ Step 2: In the search bar, type and select Balance Sheet
✅ Step 3: Set the Report Date to include the date when machinery was recorded (e.g., July 31, 2025)
✅ Step 4: Scroll down to the section called Assets → Fixed Assets
✅ Step 5: Look for a line item like:
"Machinery & Equipment" or "Fixed Asset – Machinery"
✅ Step 6: Verify that the amount is $1,340,600 or as expected
🔍 Optional Check:
🔸 Click on the Machinery & Equipment line to drill down
🔸 You should see the Journal Entry you recorded previously
🔸 Confirm the date, amount, and description
✅ Bonus Tips:
If the machinery doesn’t show up, check:
🔹 Was the journal entry saved correctly?
🔹 Was the correct account used (Fixed Asset type)?
🔹 Are you using the correct reporting date?
📣 Outro:
That’s how you check if your fixed asset machinery is properly recorded in your Balance Sheet in QuickBooks.
This step is crucial for accurate reporting and audits.
If this video helped you:
👍 Like
📩 Subscribe
💬 Drop your questions in the comments
See you in Lecture 14!
📌 Hashtags for YouTube (SEO-Friendly):
less
Copy
Edit
#quickbooks #balancesheets #fixedassets #machineryandtechnology #financialreporting #quickbookstutorial