account for equipment
dlhall68
Member Posts: 5
good day all,
new to WaveApp. How do I add my business equipment to reflect as assets under plant, property and equipment? Thank you Kindly.
David
0
dlhall68
Member Posts: 5
good day all,
new to WaveApp. How do I add my business equipment to reflect as assets under plant, property and equipment? Thank you Kindly.
David
Comments
Hi, @dlhall68,
I'll start by saying that there is an issue right now where accounts created under the "Plant, Property and Equipment" account type don't show up everywhere they should. We're working towards a resolution, but I don't have a timeline as to when this will be resolved. Luckily, I have a few workarounds.
If you don't have anything attached to those accounts yet, David, you can just delete them for now. Once that's done, recreate them under a different account type (say, "Other long-term asset"). Once they are created, click on the pencil icon next to each and change the account type to "Plant, Property and Equipment". They should appear normally where they should from then on.
Once that's done, buying equipment is as easy as creating a bill for anything else. Create a bill on the Bills page and choose the appropriate category. If you're recording equipment you already own, create a transaction on the Transactions page, choose "Owner's Investment/drawings" as the payment account and choose the appropriate asset account as your category.
I hope this helps!
Good day Alexia,
Your suggestion is great! Thank you for helping me out. Whole lot of inputting!
I really do wish I had a faster workaround, @dlhall68, but I'm glad to hear it's working out!
I haven’t started inputting the information in yet. I will let you know. Thanks much.