Where do you book your generator expenses?
Generator is an asset hence when booking you should debit Fixed Asset and credit the Supplier or Cash/bank if purchased by cash.
Generator expenses such as fuel and repairs and maintanance are supposed to be debited into generator expenses account and credited to cash/supplier account.
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Generator expenses such as fuel and repairs and maintanance are supposed to be debited into generator expenses account and credited to cash/supplier account.
Well Said Fukara. Generator expenses means expenses acquired on running it such as fuel, repair and so on. so you have to debit operaing expenses and credit cash whether it is paid by cash or/supplier account.
Generator expenses such as fuel and repairs and maintanance are supposed to be debited into generator expenses account and credited to cash/supplier account.
Well Said Fukara. Generator expenses means expenses acquired on running it such as fuel, repair and so on. so you have to debit operaing expenses and credit cash whether it is paid by cash or/supplier account.
Forget about operating expense at this point. where do you book the fuel and repair expenses?
Generator expenses such as fuel and repairs and maintanance are supposed to be debited into generator expenses account and credited to cash/supplier account.
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Power Generator? If that a case when you purchase it book it as an asset. The depreciate it for the period that is suitable for both tax purpose and cost allocate.
Fuel and repair and maintenance are periodic cost that need to hit your income statement.
Where do you book your generator expenses?