I'm currently tracking construction costs on a house I am flipping. I had to buy saw blades for this particular property, but I know I'll still be using them on the next job, so I was thinking I would cost it to my parent company and not the "customer" I've created to track expenses for the flip property. I'm still not sure what to call the saw blade purchase in my parent company (expense or asset), but while I was reading about what type of account to use, I got to thinking about how to account for my purchase of Quickbooks Desktop Pro. I originally created an expense account called Office Supplies. Is this correct, or should Quickbooks software be some sort of fixed asset?
