Please read the annually updated Budget Guidelines for guidance on this.
The accounting policy of SUSS is: (i) Capital expenditure items costing less than 999.99 and below) will be expensed off in the Income & Expenditure Statement as Office Accessories. Please include these items/amount in your OPEX Budget – Office Accessories Expense account (COA: 550016). (ii) Capital expenditure items costing 1,000 & above will be capitalized. Exception to the above: Bulk acquisition of items which are fixed assets in nature with aggregate value of 20,000 or more per invoice will be capitalised as fixed assets although individual costs are less than 1000). (iv) Depreciation will commence in the month the asset is received and not for the whole year. For projects that take more than a month to be completed, depreciation will commence in the month the project is commissioned / ready for use.