We’ve just had a meeting with our accountant to go over the figures for our first six months of trading and while she was happy with what I showed her in Manager she said that our setup costs and outlay on furniture and equipment should be recorded as ‘capital expenditure’ and not be included in the income/expenses section.
I’ve found the ‘fixed assets’ tab which seems to fulfil her requirements in terms of allowing for depreciation and where it sits in the summary etc but I’m still unclear as to where I’d record the setup costs (building work, decorating etc).
Can anyone steer me in the right direction?
Many thanks in advance.