I have tools & equipment that will require periodic maintenance & repair expenses (replacement parts, etc) and I need to reflect this in my CofA. Any recommendations? I was going to create an account called Equipment Repair & Maintenance?
Yes, that's what I use. An Expense account called Equipment Repair & Maintenance.
Thx chmm -
Another issue I'm not sure about. I have an aluminum brake machine (fixed asset) valued at $1800 and a circular saw valued at $150.00. Even though I need repairs, maintenance or replacement parts for both, should I have separate accounts since I is a fixed asset and one isn't?
