Record a capital asset purchase

A capital asset is something that your business owns that can be used to generate revenue. For example, furniture, machinery, vehicles and buildings.

Add a capital asset account

Record the purchase of a capital asset

Add a capital asset account

The Chart of Accounts page is only available on the web browser version of Wave.

Each capital asset should have its own account. This can be items, like computers or chairs, or a group like furniture or buildings. To add an account:

1. On the left-side menu, click Accounting > Chart of Accounts.
2. At the top right, click Add a new account.
3. For the Account type, click Property, Plant & Equipment.
4. For the Account Name, enter your capital asset name.
5. Click Save.

Record the purchase of a capital asset

Record a purchase using a bill

Record a purchase with a bank or credit card account

Record a personal purchase to the business

Record a purchase using a bill

Bills are only available in the web browser version of Wave.

1. Open the Bills page.
2. Select the create a bill button.
3. Select the vendor and add an item.
4. In the Expense Category field, click your asset account.
5. Enter the rest of the information on the Bill.
6. Click Save.

Record a purchase with a bank or credit card account

1. Open the Transactions page.
2. Select your bank-imported expense or add an expense transaction and fill in the details.
3. In the Category field, select the asset account.
4. Apply sales tax as necessary.
5. Select Save.

Record a personal purchase to the business

Journal transactions are only available in the web browser version of Wave.

1. Open the Transactions page.
2. Add a journal transaction.
3. Add a description of the asset and select the date you are starting to use it in the business.
4. On the first line, for the Category, select the asset account, and enter the purchase amount or value of the asset in the debit column.
5. On the second line, for the Category, select the appropriate equity account for your business.
6. Click Save.

For help recording capital asset purchases, Wave has a team of in-house bookkeepers and accounting coaches. Learn more about Personalized bookkeeping with Wave Advisors.