Category query

Accounting
1

Hi, I deal in antique furniture. Please can someone advise what category I should use when paying for restoration of items I will sell (and also when buying parts etc).

many thanks

2

Hi @chris3

I don’t know if you are a sole trader or limited company but I think you’d want these costs to appear in Costs of Sales in your P&L which would be the “Purchases” category group (5000-5999).

I suggest you create meaningful categories for you within this group.

3

Thanks Martin, yes it looks like there isn’t a suitable existing category so I will create one - I am a sole trader.

best

Chris