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How to Record the Purchase of Equipment in Xero
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.
