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PeteLC
Registered Posts: 56 Regular contributor ⭐
Would you capitalise the above?
If yes why!
If no why!
Cheers!
If yes why!
If no why!
Cheers!
0
Comments
-
I read that and was like "no, I would write it in lower case".
Seriously!!
Back with my Accountant's head on not my English graduate's one.....
And no, they are annual subscriptions usually. Unless its a big payment that is infrastructure that will last more than a year. And if it's a 2 year licence its a prepayment.
I don't capitalise anything that cost less than at least £300.0 -
Ha!!
Me too, I was like why would you write it in upper case!0 -
Capitalisation levels very much depend on the overall budget size. Currently we only capitalse expendiure on assets if the value exceeds £5,000, but this limit has been in place for a number of years. I am considering raising it to £10,000 this year, this will bring it in line with our capital receipts recognition level. All receipts under £10k are considered revenue cash. This will keep most office equipment (particularly those pesky phtocopiers funded by finance lease (but I have found a framework that will fund photocopiers on an operating lease)) and small plant off the balance sheet.0
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