can i treat the purchase of used laptops in companies as fixed assets or do I have to treat this under business expense?
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Quick Summary
This discussion explores whether purchasing used laptops for a company should be classified as a fixed asset or a business expense. The general guidance suggests that if the laptops meet the criteria for fixed assets, such as having a useful life of more than one accounting period (typically over a year), they can be treated as such. However, the one-year rule isn't the sole determining factor, implying other considerations may apply.
If the used laptops meet the criteria for fixed assets, you can treat them as such Fixed assets are long-term assets that are used in business operations and have a useful life of more than one accounting period.