Dear Sir/Madam,
I work in the construction sector and am unsure which category to place my expenses from electric tools in. Or can I create my own cost category for this? I am not entirely sure how to determine the percentages when creating a new category.
Thanks in advance.
Regards, Niels
Hello Niels,
You are welcome to create a new category. The existing cost categories are fully customisable. If you only use your electric tools for business purposes, you can set the business percentage to 100%. If you sometimes use them for business and sometimes for personal use, it could be 50%, for example.
If these are more expensive purchases that will last for a longer period of time, you can enter them under 'investment'. For example, if you depreciate over 5 years, 1/5 of the purchase price will be entered as a cost in accounts each year.
Kind regards,
Louise
www.ticenits.be
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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