As a childminder I spend money on things like toys, books, buggies, toddler groups and outings, food for the children which are included in my fees, - does this come under General Purchases or something else, as I’m not charging on top of my fees or doesn’t it make a difference!
Things like toys and books that get reused - do I put this as some kind of asset or not bother as they don’t cost a huge amount?
Difference between purchases and expenses?
Can’t get my head around this, so if anyone can explain that’d be great.
Also, General Purchase and Miscellaneous Purchase!?
If you can answer any of this, I’d be most grateful! 