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Post Info TOPIC: Cost Of Sales?
Bengi


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Cost Of Sales?
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Hi, I've got a new client who has set up a van rental business. I'm putting together his accounts for the first 6 months, and I'm not sure how to correctly account for my clients motor/van repairs. Normally I would put any motor expenses including repairs to the general motor expenses account. Since my clients business is that of hiring out van's, should I include repairs to the van's as a cost of sale?

As I've not got anything to go from I would welcome anyone's thoughts.

Thanks

Ben

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Fay


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Hi Ben

I would treat all repairs relating to the van's as a cost of sale. I would set up a van repairs account in COS to clearly identify the expenses.

Best wishes

Fay

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Bengi


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Thanks Fay, just wanted to be sure!

Ben

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