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Introduction of assets

  • 12 posts
  • # 97872

Hi, I have a new customer who is starting a business with some cash and assets that he personally owns (like machines etc). I'm pretty sure that I just debit the capital account and credit the asset account and depreciate them as usual but I'm beginning to doubt myself, is this correct? Also what are the befits of treating things as an asset as opposed to an expense? 
  • 160 posts
  • # 98399

Hi,

you may find the answer in this link;

http://ask.sage.co.uk/Scripts/ask.cfg/php.exe/enduser/std_adp.php?p_faqid=11242&p_req_pass=1&p_created=1116720000&p_sid=d714qr*j&p_accessibility=0&p_lva=&p_sp=cF9zcmNoPTEmcF9zb3J0X2J5PWRmbHQmcF9ncmlkc29ydD0mcF9yb3dfY250PTMyMDQmcF9wcm9kcz0mcF9jYXRzPSZwX3B2PSZwX2N2PSZwX3NlYXJjaF90eXBlPWFuc3dlcnMuc2VhcmNoX25sJnBfcGFnZT0xJnBfc2VhcmNoX3RleHQ9cGFydG5lcnNoaXAgYWNjb3VudA**&p_li=cF91c2VyaWQ9MzE4OTYyOSZwX3Bhc3N3ZD1wYXNzd29yZCZwX2xpX3Bhc3N3ZD1yaWRkbGVkJnBfZmlyc3RfbmFtZT1XaWxsaWFtJnBfbGFzdF9uYW1lPVJvYmVydHMmcF9lbWFpbD13ZWxsYS5yb2JlcnRzQHRpc2NhbGkuY28udWsmcF9jY2ZfNT02MjQ4MTExMCZwX2NjZl84PTM0NywzNTAsMzUxLDM0OSwzOTAsMzQ4LDM1MiwzNTUsMzU2LDM1NCwzOTEsMzUzLDMxMSw5MDgsOTA3LDkwOSw5MTEsOTEyLDkxMA**&p_topview=1 

Kind regards

Paula Welsh

  • Hello all,

    i just noticed we have a forum, just poking around the members area.  My name is Paula welsh and I have been a member since 2005, starting with Associate member and now a full member


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