we have started up a new business and had to do alot of maintenance work on the factory site, removal of trees etc, what nominal code should these be posted to on sage??
Maintenance is usually a non-sales expense (i.e. an overhead, in Sage's terms), but something has been niggling at me. I can't find the situation I'm thinking of right now, it might even not be on this site, but in searching I found the following topic:
I refer you specifically to the 12th post, by Shamus, in which Shaun references (amongst other things) paragraphs 16 and 17 of IAS16. In particular, for this situation, 16 part b:
"[The cost of an item of property, plant and equipment comprises] any costs directly attributable to bringing the asset to the [...] condition necessary for it to be capable of operating in the manner intended by management."
and 17 part b:
"[Examples of directly attributable costs are] costs of site preparation"
If clearing, etc, the factory site can be said to be the above, then the costs for the maintenance should be a fixed asset code (0001 to 0999, I believe), otherwise it would be an overhead (7000 to 8999, in the main).
But don't take my word for it, as I am not at all sure about this; others should confirm or correct as appropriate.
