Other than the costs for construction, what causes my fixed assets (i.e. furniture & fixtures, office equipment and leasehold improvements) to increase?
Generally, purchases of items that will be used over a long term will be classified as fixed assets. Most often, this will consist of the purchase of orthodontic equipment by our purchasing department (Cathy Feagins department). The total of the equipment purchased (not the supplies purchased) are added to the cost of office equipment. As a rule of thumb, total monthly equipment purchases in excess of $300 will be included in fixed assets and purchases less than $300 will be treated as a normal expense of doing business. Information on expenditures for any month is available instantly from the PennyLane system’s Items Purchased Distribution Report. Other fixed assets purchased will include the building of shelves, cabinets or other permanent structures in an office (leasehold improvements), computers and computer related products (including Visa/Mastercard machines), chairs, desks, copiers, fax machines, etc. Most importantly, regardless of whether a purchase is treated as a fixed asse
Related Questions
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