Equipment

Hi Nben,

Making sure you're recording your transactions the right way is a good exercise for keeping your books accurate. I'll be glad to steer you in the right direction so you can focus on doing the things you enjoy. 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the expense transaction. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here.

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to help.

I book these types of items to an expense account, not as an asset.  They are not things that would normally be depreciated.  But, asking your accountant is never a bad idea. Our accountant has advised us to only book things as an asset that are under $2500.00 which is pretty standard.  But  - your accountant may suggest a different threshold.