What do I code equipment purchases to?

If the asset purchased is less than $500 excluding GST per item, you need to code the item to the appropriate expense code.

If the asset purchased is more than $500 excluding GST per item, instead of expensing it you need to treat it like a fixed asset. This is done by coding it to an asset account and depreciating it at year end. The depreciation will be coded to the asset’s accumulated depreciation account.