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My client is a CC. He had his bakkie repaired for R40,000.
Does this get treated as an additional amount in the Asset Register (Motor Vehicle)
or
Can the total be expensed in the current financial year?
Expense it out if it was invoiced directly and the business owns the vehicle. What type of repair and was insurance involved? If the insurance payed out then you must reflect this as well.
Thank you! I will treat as an expense then. However, I forgot to find out if insurance was involved. Good point.
Thanks so much to both for your responses!
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