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• # 77915
• Wed 28 Dec 2011 07:24 PM

Hi everyone,

Hope you had a great Christmas and I wish you a Happy New Year.


My son's girlfriend got him an IPad for Christmas and he has decided to use this in his business. Can it be registered as part of his buisness?  If it can do I just add it to the asset register?  How would it be shown as capital of the business?


He is my first client and I really want to make sure I do everything right.

 Any help would be appreciated.
        

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  Kind regards,
  
  Shirley
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• # 77916
• Wed 28 Dec 2011 07:47 PM

Hi Shirley,

If your son is introducing his asset into his business;

You will need to open  a fixed asset register spreadsheet, depending on the accounting software you use.
Some software have Fixed asset maintenance tab (Sage) enabling you to register the asset. You will have to post depreciation at the year end. Asset is register at the value mentioned on the receipt.

Office equipment DR
Capital CR

Accounting the same asset as a GIFT as per your title  could open another debate! i.e could be accounted for differently.

Hope it helps,

All the best,

Nathaliexxx

Edited at 28 Dec 2011 07:56 PM GMT

• Provide bookkeeping and virtual accountancy assistance service in English and French @nckaccountancy.
  West Essex Twitter:http://nckaccountancy.co.uk
  E-mail: info@nckaccountancy.co.uk
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• # 77922
• Thu 29 Dec 2011 04:19 PM

Hi Nathalie,


Thank you for your help.  My Sage Instant doesn't appear to have an Asset register so a spreadsheet it will have to be for now.


Thanks again for your help, and a Happy New Year.
     

• 
  Kind regards,
  
  Shirley
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• # 77927
• Thu 29 Dec 2011 08:00 PM

Hi Shirley,

Merry christmas and happy new year year to you too.

Kind Regards,

Nathaliexxx

• Provide bookkeeping and virtual accountancy assistance service in English and French @nckaccountancy.
  West Essex Twitter:http://nckaccountancy.co.uk
  E-mail: info@nckaccountancy.co.uk
• 
  Quote