On Fri, 10 Dec 2021 at 20:28, Michael or Penny Novack < stepbystepf...@comcast.net> wrote:
> On 12/10/2021 10:18 AM, Gyle McCollam wrote: > > This is a lot different than your first explanation. Under these > circumstances where you sold the company electronic equipment, it is indeed > just an expense. On the company's books, it is the same as if the company > had bought the equipment from any other vendor and would in no way be a > "director's loan". Treat it like any other expense on the company's books. > > Accounting, not gnucash, but ....... > > a) This equipment, is it short lived? (expected to wear out in a year or > so). Is it "consumables" used up in processing? > No. It's electronic test equipment, which is depreciated over a period of 5-years. b) If not, do the rules of your jurisdiction allow you to immediately > expense it? Or do they require you to treat this equipment as a fixed > asset depreciating over X years (in other words, becomes an expense as > it depreciates) > It needs to be depreciated. Dave _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
