I am an electrical contractor and I purchase small tools throughout the year. Where do I account for tool expense?

aaronh · ‎October 29, 2019

Delphision · ‎October 29, 2019

Large tools with substantial cost, and longer life expectancy would be added as assets. Smaller tools, with limited life are expensed as supplies. In actual bookkeeping programs, you will see "small tools expense"

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I am an electrical contractor and I purchase small tools throughout the year. Where do I account for tool expense?

Self-employed