ymchou
Member
In this company, the policy is to expenses off items that cost below $1000.
However, for tax purposes, they need to be able to track some of these items which have been expensed off - because for tax purposes, they are considered capital items and thus cannot be written off just like that.
For example, a check writer that costs $600. Since it is below $1000, this will be expensed off to an account, say 9.8850.
Yet, for tax computation, we need to track that we purchased this check writer and the capital allowances for this is 20% per annum.
How can we use the FA module to handle this?
Any ideas will be much appreciated. Thanks!
However, for tax purposes, they need to be able to track some of these items which have been expensed off - because for tax purposes, they are considered capital items and thus cannot be written off just like that.
For example, a check writer that costs $600. Since it is below $1000, this will be expensed off to an account, say 9.8850.
Yet, for tax computation, we need to track that we purchased this check writer and the capital allowances for this is 20% per annum.
How can we use the FA module to handle this?
Any ideas will be much appreciated. Thanks!