How's the best way to add cars, tractors, equipment as property, purchased or existing?

Question

Want to add a lawn tractor purchased as "property" item but can't seem to get it listed.  Also have other farm equipment items I'd like to add, but can't get the right combo of entries to make it happen.  No debt, just want to keep track of and depreciate.  Seems like I need to make a separate "account" for each one, but ???  THANKS for any ideas!

UKR · Answer

I second the idea about using a general asset account (Equipment).
But, instead of using the "Tag" field to describe the equipment I would use the Payee Name field instead: 
"Deere dozer D90, year 2000, VIN ...", etc.
Unless needed for something else, I'd categorize each entry to Category = [Equipment] because all you want to do is increase Net Worth. The expense transactions when you originally purchased the equipment have already been made separately.
For annual depreciation transactions I'd set up Scheduled Reminders, due annually 1/1, with the category = [Equipment] again, to reduce your Net Worth. Set the number of executions of each reminder to the number of years you can depreciate each piece of equipment.Reports for each transaction in the account, sorted by and subtotaled by Payee, will give you easy to use information on your equipment.

q_lurker · Answer

Adding a separate account for each item is one possibility.

You could alternatively have one more general account (Equipment), representing all such items.  In that case, you might want to 'tag' each transaction with the associated piece of equipment.

Quicken is not geared toward managing depreciation, so those computations will need to be elsewhere with the final results pugged in.  You will need to set up an expense category for that depreciation as well.

gooddog50 · Answer

Hi gtmustangguy 
You can go to Tools > Account LIst >Add Account (bottom right corner) > Other Assets & Liabilities & pick what you want to add, fill in the blanks, etc...

Give that a try and see if it does what you want,