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Hi Keepbooking,

Thank you for your detailed reply. I will try setting it up as you suggested, I was starting to get an idea about what had to be done but not which accounts to use and which to...

Ok. I was just worried there was a requirement to record all these things. I think my business should purchase them from me at second hand value then. This time it is low value but as an exercise...

Thanks for replying :)

Mostly low value craft punches, but also an electronic cutting machine which is 7 years old and was worth about $200 new.

As all this equipment is used to actually make...

Hi everyone,

Sorry, I know nothing about accounting! I am in the process of turning my hobby into a business and I am trying to fill in the starting assets account in my book keeping software.
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