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Accounting entry

This query is : Resolved 
Quick Summary
Expenses on electrical items and sanitary fittings in a new building are capitalized, not treated as repairs. They should be recorded under fixed assets, either within building WIP or as separate asset heads like electrical or equipment.

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(Querist)
28 April 2017 in constructed new building we fitting 1.Electricity item (wire, pvc pipe, electric goods) 2. Sanitary ware ( water pipe,bathroom fittings, etc.) so please suggest account head for both items, weather its capitalize in Building (WIP) or other heads.
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Sandeep Dharar

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Sandeep Dharar (Expert)
28 April 2017 I'll suggest to capitalize the transactions, as it is new installation and not repair. U may create a ledger office & equipment under fixed assets or create separate for office equipment and electric equipment.
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