accounting question ! lol i know it is wrong catogery but i think this is the most popular category?
accounting question ! lol i know it is wrong catogery but i think this is the most popular category?
Acccounting question?
i am now preparing a a ledger , the question i have : i have like utilities expenses and and repair expense ...do i have to put them in one account titled as expnses ...or shall i put each expenses in different account ... another question lands and cottages ..both are assets cant i put them in one account ,....sorry if i have stupid question , i am not an accountant!
7 minutes ago - 3 days left to answer.
Answers:
Chosen Answer
MBATXguy: To answer question in a short way.. I would record utilities as a separate expense from repairs. Also, you should separate Land from Cottages because one is dealing with a fixed structure, while other is place where the structure is attached.. You can have it roll up though however to: Property, Plant and Equipment You just may want to keep this separate on your subledgers..
2008-02-22 10:20:12
MBATXguy: To answer question in a short way.. I would record utilities as a separate expense from repairs. Also, you should separate Land from Cottages because one is dealing with a fixed structure, while other is place where the structure is attached.. You can have it roll up though however to: Property, Plant and Equipment You just may want to keep this separate on your subledgers..
2008-02-22 10:20:12
Doctor Deth: land and building should be separate accts - you depreciate building, but not land so you need to separate them
put each different TYPE of expense in a different general ledger acct - rent, utilities, vehicle expenses, etc - each in a different acct
2008-02-22 10:32:36
2008-02-22 10:32:36