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asset investment, how to record it

Question asked by Denesh 1 year ago

Hello.

how do I record a purchase for an asset investment, the asset is a website that generates income?

1 Reply

Hi Danesh,

I would recommend recording the purchase of the asset as normal, allocating the account code intangible asset. This will add the asset to your balance sheet.

Income from this asset would then be recorded under "other income" or a custom account code.

I would confirm this with your accountant though.

All the best, Theo

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