How to financials: Difference between revisions
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* Repair and Maintenance - The costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition (as opposed to improving the asset). Fixing non-consumable things in the machine. These things are less frequently replaced. | * Repair and Maintenance - The costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition (as opposed to improving the asset). Fixing non-consumable things in the machine. These things are less frequently replaced. | ||
** Example: cleaning fluid, belts. | ** Example: cleaning fluid, belts. | ||
* | * Tools - Tools or permanent improvement to tools or area. | ||
** These include things like shelving. | ** These include things like shelving. | ||
* Office Expenses | * Office Expenses | ||
Revision as of 19:37, 22 October 2014
Category
- Supplies - Things consumed by the process of using or running the machine. Will not improve or maintain condition.
- These are going to be things that are directly worn down in its normal use. Example: grinding wheels, bandsaw blades, end mills, and lathe tooling.
- Repair and Maintenance - The costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition (as opposed to improving the asset). Fixing non-consumable things in the machine. These things are less frequently replaced.
- Example: cleaning fluid, belts.
- Tools - Tools or permanent improvement to tools or area.
- These include things like shelving.
- Office Expenses
- Things that would be used to maintain an office building. Examples: cleaning supplies, toner, paper, toilet paper.
How we are categorizing specific things
- Software licenses
- Going to categorize these as office expenses. The "Regs, licenses, and fees" account will be used for government dealings.
