Which nominal code to use for a purchase

Support
1

I have recently brought an hand truck to aid me in getting goods from my van to the point of delivery.

Which nominal code would I use for this?

(Sole trader courier)

Thanks in advance

2

Hello @davepikecs

You could record it as an Asset (0001-1199)or you could record it as an Overhead (7000-9999).
You can create a new code under either section.
https://support.quickfile.co.uk/t/adding-a-new-nominal-account/8882

As I am not a registered accountant nor bookkeeper I would not be able to give definitive advice on this and It may be worth checking.

If you don’t have an accountant, we have a panel of accountants to choose from, for more information, please see the following link:

3

Hi,
It depends a bit on how much you paid for it. Is it quite a lot , over £300 or so, it would be posted to assets. Was it below that, £50 or so, it would maybe count as an expense. But I am not an accountant.
Expense or assets, you can create easily your own nominal code:
Adding a new nominal account

4

Thank you both for your prompt replies.
It is only a lightweight truck costing £25 so I have looked again and I was thinking instead of creating a new nominal code could I just put it under miscellaneous expenses (6900)

Thanks again in advance.

5

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