Hi. First time poster here - apologies if this is in the incorrect area!
I’ve just taken on a franchise (I am the franchisee) and am going to be using QF for my accounting. I’ve managed to work most things out using the forums or knowledge base - but I’m trying to add my initial franchise fee costs but I don’t know what purchase category to put them down under?
Would it be Capital Expenditure? I understand this would not be tax deductible - which seems odd!
To complicate matters, the initial franchise fee includes the right to trade under the franchise but also includes the provision of equipment (tools, branded clothing etc). So there is tangible assets aswell as the intangible asset of being able to use the trading name, systems etc. Does this make a difference?
Thanks so much in anticipation. I did search the forums but couldn’t find anything about this!
Edit: it’s a limited company