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Is there a particular GL account that appliance repair fall under?
I know that the actual purchase of an appliance would fall under fixed asset and should be depreciated over the life of the appliance. However what GL account would I put the actual repair of the appliance? Can I create a GL expense account for appliance repairs?
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If you are repairing the appliance when you get it, that cost is part of the fixed asset cost
If you are repairing the appliance during its life time, then that is an expense. Create the expense account for appliance repair expense and use that
If you are repairing the appliance when you get it, that cost is part of the fixed asset cost
If you are repairing the appliance during its life time, then that is an expense. Create the expense account for appliance repair expense and use that
Thank you for your reply and answer to my question. It was as I had thought, just wanted confirmation.
Thanks again!
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