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RP62
Level 1

just purchased a 2014 Chevy truck. Purpose is for work and needed to be large enough to haul tools. Is it an expense?

just purchased a 2014 Chevy truck. Purpose is for work and needed to be large enough to haul tools. Is it an expense?

1 Comment 1
MorganB
Content Leader

just purchased a 2014 Chevy truck. Purpose is for work and needed to be large enough to haul tools. Is it an expense?

Hi there, RP62.

 

Congrats on your new business purchase! I'd be glad to help point you in the right direction for entering the truck in QuickBooks.

 

According the the accounting terms article, "Expenses are the costs of things you use for your business. This includes products and services you use to run your business as well as things like utilities." It does sound like this truck would be categorized as a business expense, but it's always best to speak with your accountant about any entries in question. If you don't currently have an accountant, you can find one in your area with a quick search on the ProAdvisor site

 

Please feel free to leave a comment below if you have any other questions. I'll be here to help.

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