How to record purchase of equipment and cost of installation?

Zalina

I have purchase washer and dryer for my laundry shop which required an installation of facilities such as heater, water tank and gas pipeline; also renovation for the shop. How do I record all these purchase/expenses in my account?
Should I split and record only the washer and dryer as Asset under MC & Equipment and then split the recording of facilities installation/renovation under expenses?

JulianP

Hey there @Zalina ! I suggest recording the expense/purchase as a bill. You can do this by heading over to Purchases > Bills. When creating each product(s)/service(s) to add to your bill, you will have the option to select an expense account. If you don't see the appropriate expense accounts that suit the product(s) and service(s) then you can make new ones by heading over to Accounting > Chart of Accounts > Add a New Account > Account Type > Expense. In terms of what the expense account should be named, that is up to you. I'm afraid that Wave Support can't assist with this as we are not CPA's. However, I'd like to mention that these categories are primarily used to organize your expenses and will not make or break your accounting.