Asset depreciation

Question:

US QuickBooks Online Edition : Plus

We purchased furniture and had to pay a  deposit of 1/2 of the full amount in Feb.  The furniture is being delivered this week …3/8/13 and we will pay the balance when they deliver.  My question is for Feb books, how to I handle the money that we paid for the furniture? Do I go ahead and asset it or put it in some kind of prepaid asset until the remainder of the cost hits the books?

Answer:

>>> put it in some kind of prepaid asset until the remainder of the cost hits the books? <<<

  • Correct answer

 

>>> Asset depreciation <<<

Once you start using it not when paid.