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JELProjects
Jun 4, 2020 11:48 AM UTC
Solved

Categorise business equipment

Hi, 

I am using QB Self Employed, can you tell me how I categorise business expenditure on equipment, for example, I buy a new drill... it isn't cost of goods for resale but I can't see what else to categorise it as. Many thanks. 

EmmaMAnswer
Jun 4, 2020 3:52 PM UTC

HI JELProjects, Is this drill an allowable expense for the business? What box on the Self Assessment are you looking to impact? More information on what expense category to use can be found here. We'd love to give you guidance, we're not trained accountants however we can give general guidance and then you can confirm with your accountant if they're happy with that, Thanks😊

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EmmaMAnswer
Jun 4, 2020 3:52 PM UTC

HI JELProjects, Is this drill an allowable expense for the business? What box on the Self Assessment are you looking to impact? More information on what expense category to use can be found here. We'd love to give you guidance, we're not trained accountants however we can give general guidance and then you can confirm with your accountant if they're happy with that, Thanks😊

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