Capital Purchase

Bernard27

Why Doesn't Solo have an option for Capital Purchases, such as a new motor vehicle?

Or am I having a boys look!

Jay-Solo

Hey there @Bernard27! Fear not, I don't think this is a boy's look problem 🤫🤣

Under More > Categories in Solo, you'll have the option to add a variety of different expense types. So far, we have: 

• Expense – for the day-to-day costs of running your business, like utility bills and cleaning.
• Income – for the sale of goods and services.
• Equity – this is typically for personal income and expenses.
• Liability – for money you owe, like a credit card account or business loan.
• Asset – for things you own or are owed, like money in the bank or money owed to you by customers.

It sounds like you may be describing an "Asset" here, but a footnote that we aren't qualified in tax or financial advice so we always recommend having a chat with the experts!

 

I hope this sets you on the right track, but please let me know if you were thinking of something closer to personal capital and/or owner's drawings. If you need any further help, you're welcome to reach out to us in the Solo app by tapping More > Chat with us. We've got you! 💜