Expense heads for a bed & breakfast
This query is : Resolved
16 December 2011
Dear expert,
I have a new client which is an LLP company and they have license to run a Bed & Breakfast place. They do not run a restaurant. Please advise under which heads will the following expenses be covered:
1. Purchase of food items for Guest Breakfast
2. Kitchen utensils, crockery & cutlery
3. Soft furnishings (mattress, sheets, curtains etc.)
I have a new client which is an LLP company and they have license to run a Bed & Breakfast place. They do not run a restaurant. Please advise under which heads will the following expenses be covered:
1. Purchase of food items for Guest Breakfast
2. Kitchen utensils, crockery & cutlery
3. Soft furnishings (mattress, sheets, curtains etc.)
17 December 2011
Dear Kakoli,
1. Food items purchased shall be booked as food expenses under direct expenses.
2. Kitchen utensils etc. shall be booked as consumables as expected life is less than 1 year.
3. Soft furnishings is a part of furniture and should be capitalized.
1. Food items purchased shall be booked as food expenses under direct expenses.
2. Kitchen utensils etc. shall be booked as consumables as expected life is less than 1 year.
3. Soft furnishings is a part of furniture and should be capitalized.
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