Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Our platform has all the tools you need to do your accounting yourself.
Hello
I have a defective camera that was still being depreciated. After investigation by the supplier, the conclusion was that it could not be repaired, and I received a credit note and a credit.
My question is how best to record this. Is it correct to sell the camera to myself for 0.01 euro to stop the depreciation and record the credit note, or is there a better way?
Regards
That seems like the best way to me!You do need to be careful, though, because you haven't received a credit note and refund, but a credit balance. This means that you will receive a discount for that amount on your next purchase from the same supplier. However, this is of no accounting significance as long as you don't make that next purchase (and check how long that credit balance remains valid so that it doesn't expire before you can use it). For the time being, you do not have to enter anything in your accounts and you have lost the expense (it has been paid, invoiced and entered in the accounts, but it is of no use to you). In my opinion, this is also contrary to the European warranty regulations. In the event of a fault within the warranty period, the supplier is required either to refund the purchases in full (and therefore also to issue a credit note) or to provide a replacement device free (the supplier is also responsible for the shipping costs).
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
