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Thread: Purchase of replacement printer - Fixed Asset or Repairs & Maintenance - financial category?

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    Purchase of replacement printer - Fixed Asset or Repairs & Maintenance - financial category?

    I just bought a new printer to replace our old printer.

    What will the financial category be on Pastel, is this considered a new asset or a repair and maintenance to office equipment, since the company has had the expense of purchasing the original printer.

    What about depreciation will that need to be added back to the depreciation account for tax?

    Many Thanks

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    Site Caretaker Dave A's Avatar
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    You are replacing substantially the whole...

    My understanding is you would treat this as a purchase of a new asset when it comes to the new printer, and the total impairment and/or disposal of the old printer.
    (Perhaps easier to grasp when thinking of motor vehicles, then using the same principles.)

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    Thanks Dave - I will remember this in the future.

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