Could you tell me is there anything I need to watch out for with regards to the above as I have been approached by a potential customer and wanted to be prepared.
I have found bookkeeping for salons to normally be quite straightforward. Be sure to ask your client as which level they would like to capitalise their items.
Some small sole trader salons like all their hairdryers, straighteners, sinks, till etc to be included on the balance sheet, otherwise they have nothing to show when they come to sell the salon or try to raise funds for expansion - this also means it is important to keep an upto date fixed asset register.
Thanks for the reply it is a Ltd company, I will bear what you have said in mind. I will find more info out soon, and im sure I will have more questions...