The simplest way to record the purchase of equipment in Xero is by adding a journal entry. Here’s a quick guide on how to do it:
- On Xero's main dashboard, go to the top menu bar and click 'Accounting'.
- Choose 'Journal Report' from the list of options.
- After that, click 'Go To Manual Journals'.
- Find and open the journal you wish to use for recording the purchase of equipment.
- Subsequently, click the 'Journal Options' button in the top-right corner.
- Tap 'Edit' to proceed.
- Following that, tap an empty line and enter the necessary details related to the purchase of equipment, particularly the Description, Account, Tax Rate, Region, and Amount (Credit or Debit).
- Once done, tap 'Post' to apply the changes.
- After completing these steps, your purchase of equipment will be recorded in the selected Xero journal.
