Tag for tools you buy

what do i tag tools i buy under?

Do you work in the construction industry (i.e. are these tools an integral part of your day-to-day job) or are these just odd-job tools?

not construction industry but IT but these tools are integral part of my job without them i can open pc, i can’t build them or wire up networks

The question is whether to expense them or log as assets. The rules on this can vary so I would run this by your accountant.

If you log as an asset then you can use the category “Office Equipment”, otherwise for expensing tools use “Repairs and Renewals” or create a new nominal.

There’s discussion here that may help:


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