Did you buy something the business keeps, such as a fridge, furniture, a motorbike or a machine? Record it under Assets, and Meku keeps it at what it is worth. It loses a little value each month, instead of making a hole in one month's profit.
Create your account Set-up guidesWhat you do, and what Meku does with it.
Assets → Add: what it is, what it cost, when you bought it, and which account paid for it.
Asks one question: will you still be using it in a year? If yes, it is an asset. If no, it is an expense, and Meku asks what kind.
Nothing.
Takes a little off its value each month. Assets shows what you paid, what it is worth now, and the difference. Your profit takes the small monthly amount, not the whole price at once.
When you sell it, record the sale on the asset.
Calculates the gain or loss against what it was still worth, instead of recording the whole amount as income.
Something the business owns and will still use in a year, such as a fridge, a motorbike, a counter or a machine. Stock you sell is not an asset in this sense. It is stock.
Because then one month looks very bad, and every month after it looks better than it was. Spreading the cost is what an accountant would do, and Meku does it for you.
Simple to use. Works on the web, iPhone and Android.
