Buying storage-units for my new business

John_Longland1

Good day all.
My second question !!!
I am starting my own drone-business where I build drones. For this I need to buy a lot of components to build my drones with. These purchases I have put under bills and the "expense category" I made "inventory". This seems to be working fine.

I have also purchased these Linvar wall-mounted bin-units to have as a store.
The actual purchasing of the storage units, I see as purchasing an asset. Like purchasing furniture. I can define "storage units" as an asset account under "Assets" but when I choose the expense category when generating my bill, that asset account cannot be selected as an item on the bill ? How else can I account for the purchasing of these soregae units ??

many thanks
John

JordanD

Hey @John_Longland1! Within Wave, some areas of the Chart of Accounts are not set up to be considered payment accounts - meaning that they are not typically accounts that hold funds that would directly pay for an item. I'm happy to confirm if this is the case here, but can you let me know which subheading under the Assets section in the Chart of Accounts you have created the Storage Unit account under? I'd recommend using the "Other Short Term Asset" or "Other Long Term Asset" option and you should have more success!