How to financials
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Category
- Supplies - Things consumed by the process of using or running the machine. Will not improve or maintain condition.
- These are going to be things that are directly worn down in its normal use. Example: grinding wheels, bandsaw blades, end mills, and lathe tooling.
- Repair and Maintenance - The costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition (as opposed to improving the asset). Fixing non-consumable things in the machine. These things are less frequently replaced.
- Example: cleaning fluid, belts.
- Small Equipment - Tools or permanent improvement to tools or area.
- These include things like shelving.
- Office Expenses
- Things that would be used to maintain an office building. Examples: cleaning supplies, toner, paper, toilet paper.