I have just moved to the warehouse unit from home. I started buying plenty items. Now I have problem how to tag them:)
- Racking/ shelving few times x 300 pounds
- Rubbsh bin
- Rubber mat (83 pounds)
- Sim card to use with router only (for security camera)
- cable clips and screws (not for resale but for installations)
- Kettle, brush set and broom
- Cleaning clothes
… and brown tape (for packing items for resale)
Could you advise please
By “tagging” I assume that you are referring to which nominal account to use for each purchase.
If you look at the Chart of Accounts report you will see a full list of available nominals in an easier to read format than the drop down used for creating a purchase.
An accountant could come up with formal definitions but my rule of thumb is that any kit which you could resell if you go bust will be an asset. The rest are overheads. The SIM I would put down as an IT Consumable as it has no reuse value. Clips and screws I would probably put down as stationery along with the packing tape.