Are tools I purchase for use in my shop considered inventory?

Hi. What Expense detail type account would you list a say $250.00 tool as? Thankyou

Hi. What Expense detail type account would you list a say $250.00 tool under? Thankyou

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@LauriGrace wrote:

Hi. What Expense detail type account would you list a say $250.00 tool under? Thankyou

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tools or shop expense

What about materials for building works ie plaster or paint or bricks please! Thanks

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@Lizandpaulj1 wrote:

What about materials for building works ie plaster or paint or bricks please! Thanks

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job or shop materials expense

Thank you for your reply

Is this a category I have to "add" as ive just started out and it doesnt appear to be in the list

Thanks 

Liz

You might want to choose the Detail Type closest to your transaction, Liz.

Each selected Detail Type has a description on the box below the field. You can refer to this information to choose the best one.

Currently, there isn’t a way to add another category aside from the ones showing on the list. If you’re not comfortable with your own discretion, I’d recommend asking an accountant’s suggestion.

Drop us a question again if you need anything else.