P&L help needed

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:32AM in AAT student discussion
Ok I am trying to compose a P&L.
if a company has bought equipment but these are not being classed as fixed assets due to worth how would these be entered.
one item has also broken and I need to write it off.

Any help would be most appreciated.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:P&L help needed

    I think if they are not fixed assets then they will either have their own account into the general ledger which will only appear in the P&L or just be classed to a "miscellaneous expenses".

    If the items had been entered as expenses and they broke I do not think any entry is required, if the broken assets are fixed assets then they will need to be disposed of with the disposal account.

    I hope this helps,
    Manuela
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:P&L help needed

    Thanks for the help got that all finished now :D

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