Newbie Question

Just started using Accounting Express and have a question.

I bought a laptop that will be used for my new start-up business. I
purchased it at Costco and charged it to my AMEX account. So, since it was
an AMEX, I was charged sales tax.

I have a credit card account setup in Account Epress and Costco as a vendor.

I understand that a laptop is considered a business asset that is
depreciable. Therefore, I have the following questions related to how I
should enter this entry into Accounting Express.

1. Should I enter it in my account register for American Express with pay
to as Costco?
2. What account should be used? Should I setup an account for computers and
equipment that could be tracked as a depreciable asset? Or, is there a
different account I should use?

Thanks!

Art

The value of the laptop, including sales tax, should be booked as an asset.

It should be a "Fixed Asset"

I would call it "Computers and Equipment"

Actually, I would just put the laptop in "Office Expenses" but that's just
me. I've aruged that comptuers I've bought are worthless after a year, which
for me is true.

"awm" wrote:

> Just started using Accounting Express and have a question.
>
> I bought a laptop that will be used for my new start-up business. I
> purchased it at Costco and charged it to my AMEX account. So, since it was
> an AMEX, I was charged sales tax.
>
> I have a credit card account setup in Account Epress and Costco as a vendor.
>
> I understand that a laptop is considered a business asset that is
> depreciable. Therefore, I have the following questions related to how I
> should enter this entry into Accounting Express.
>
> 1. Should I enter it in my account register for American Express with pay
> to as Costco?
> 2. What account should be used? Should I setup an account for computers and
> equipment that could be tracked as a depreciable asset? Or, is there a
> different account I should use?
>
> Thanks!
>
> Art
>
>
>
>

and... i don't think that the laptop is tax exempt. just products that you
resale are tax exempt, not products that are used for internal use by the
company.





"anonymous" <> wrote in message
news:2DBAA22A-4F3F-4FC1-A9BB-...
> The value of the laptop, including sales tax, should be booked as an
> asset.
>
> It should be a "Fixed Asset"
>
> I would call it "Computers and Equipment"
>
> Actually, I would just put the laptop in "Office Expenses" but that's just
> me. I've aruged that comptuers I've bought are worthless after a year,
> which
> for me is true.
>
> "awm" wrote:
>
>> Just started using Accounting Express and have a question.
>>
>> I bought a laptop that will be used for my new start-up business. I
>> purchased it at Costco and charged it to my AMEX account. So, since it
>> was
>> an AMEX, I was charged sales tax.
>>
>> I have a credit card account setup in Account Epress and Costco as a
>> vendor.
>>
>> I understand that a laptop is considered a business asset that is
>> depreciable. Therefore, I have the following questions related to how I
>> should enter this entry into Accounting Express.
>>
>> 1. Should I enter it in my account register for American Express with
>> pay
>> to as Costco?
>> 2. What account should be used? Should I setup an account for computers
>> and
>> equipment that could be tracked as a depreciable asset? Or, is there a
>> different account I should use?
>>
>> Thanks!
>>
>> Art
>>
>>
>>
>>