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Post Info TOPIC: Office equipment depreciation
PawelLTD


Member

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Posts: 8
Date:
Office equipment depreciation
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I've bought Printer (39.99 GBP) and Crosscut shred (41.24 GBP).
I'm wondering is there any regulation allowing to account 100% of low value office equipment.
If yes, can I post as below:
Purchase of Printer
Office equipment (Dt)
Cash (Ct)
Depreciation of Printer
Office equipment (Ct)
Depreciation of office equipment (Dt)

Thanks in advanc



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morgwick


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Are the items renewals / replacements? If so I would just place under repairs and renewals.

I have not heard of writing off low value equipment in first year, so I would depreciate as normal if they were capitalised.

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Gill
kjmcculloch83


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Posts: 2085
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I think you're over complicating this a tad. I would suggest that these items cost so little that it's not worth capitalising them and should probably just be entered as equipment expensed.

There is another recent thread on this, but I can't see it at the moment.

Kris

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BKN Most Innovative Accountancy Firm 2012

Director and Co-Founder of The Bookkeepers Alliance

 
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