I recently purchased a new washer and dryer. Now, I'm trying to figure out how to record it in my monthly ledger. I know that I will need to use my S/T% for deducting it but how do I write it down in my books? I haven't completed a fiscal year so I don't know exactly how many hours I will end up working in a year so I haven't figured out my S/T%. Would I just estimate it using the average hours I've worked over the last few months I've been open and figure it that way and record it after applying my S/T%? Sorry I'm still a bit new to bookkeeping. Thanks in advance!
Help! Recording Appliance Purchase?
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I recently purchased a new washer and dryer. Now, I'm trying to figure out how to record it in my monthly ledger. I know that I will need to use my S/T% for deducting it but how do I write it down in my books? I haven't completed a fiscal year so I don't know exactly how many hours I will end up working in a year so I haven't figured out my S/T%. Would I just estimate it using the average hours I've worked over the last few months I've been open and figure it that way and record it after applying my S/T%? Sorry I'm still a bit new to bookkeeping. Thanks in advance!- Flag
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