Expensing consumables that cost over £100

SuperchargedLlama

Hi all,

I hope you can help me with this one as it’s making my brain hurt. For reference, I’m a sole trader.

I’m a vehicle detailer and part of the services I offer is the application of a ceramic coating - the raw materials of which can cost over £100 when I purchase them. These things aren’t assets as they are consumable…but Crunch has a limit of £100 on expense items before they need to be classified as assets.

How would you record these?

Many thanks.

HelenaMann

Hi - thanks very much for your post Let me check with one of our expert accountants and we’ll get back to you soon!

HelenaMann

Hi - please record the raw materials under ‘Purchases and Materials’ in your Crunch account. This doesn’t have a limit on it like ‘Low value equipment’ does.

Many thanks

SuperchargedLlama

Thanks Helena.

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