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Yorkshire_Remaps
Level 1

Accounting categories (nominal accounts) again

Hi again

Entering some receipts for tools for my business. Mixture of software and hardware as my business does software tuning for vehicles. How would you see these fitting in to the nominal account categories please?

 

Kind regards

Jason

4 REPLIES 4
EmmaM
QuickBooks Team

Accounting categories (nominal accounts) again

Hello Yorkshire_Remaps, You could look at tangible assets>macinery and equipment as an option within the nominal account categories to re3cord the purchase of software/hardware for the business. You may want to confirm that with an accountant.

Yorkshire_Remaps
Level 1

Accounting categories (nominal accounts) again

Thanks EmmaM, that's the type of thing I was looking for but can't see it listed. I'll have a scout about Smiley Happy

Kind regards

Jason

Yorkshire_Remaps
Level 1

Accounting categories (nominal accounts) again

Actually I'll amend that. I can see computer additions at cost which in the detail also says Machinery and equipment but seems a bit confusing to be honest.

GeorgiaC
QuickBooks Team

Accounting categories (nominal accounts) again

Hi Jason, the Account Type is the key factor in terms of the reporting of normal accounts, the Detail Type is less specific whereby you can just choose the best fit. 🙂

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