Online Purchases

by Gayle
(Canada)

What bookkeeping entry would you need to record a purchase made on line?

For example, two computer items were purchased on line from USA for $100.00 USD. They were both computer software items. There is a Canadian brokerage fee and a Canadian GST charge taken from the receipts.

Both of these items are a capital expense (provides lasting value) but because of the value I am not sure if I should book it as an office expense or book it to the computer asset account.

Hi Gayle,

Check out these two links:

CCA class 12 - be sure to read the note about classifying software. It is after the CCA class listing.

Recording computer hardware and software purchases

Another link that is useful is this link discussing aggregate purchases of small items.

Small Tools Threshold