Are office supplies an asset or expense?
Running a company is not a child’s play. From physical structure to digital requirements, a company has to look after everything. Office supplies in Houston are one of them, but what does it mean? What all comes under office supplies, and are they an asset or expense to a particular company? We will get to know in detail about all these in this write-up.
What are office supplies?
Office supplies are also called stationary and they include staples, paper, ink, pen and pencils, paper clips, binders, file folders, and markers. All of these items are hundred percent consumable, meaning that they are purchased to be used. Even equipment like computer printers comes under the office supplies category.
Useful office supplies and equipment
In order to run a company, each of its departments should work in a proper and smooth manner. There are few things that cannot be avoided in terms of office supplies, i.e., things without which work cannot be carried out.
Firstly, writing instruments like pens, pencils, markers, and highlighters are of great importance. Add erasers, white-out, and pencil holders to this list.
Next, come all the paper products and basic stationery. Agreed that we are in a digital age where keeping office work paperless is becoming a priority, but paper still remains a fixture of day-to-day business. Spiral notebooks, writing pads, phone message pads, pocket notebooks, laser printer paper, bill pad, copy paper and letterhead are the items that you can list down immediately.
Many of us might not know, but there have been more than 60 types of paper clips manufactured over the years, with availability in many sizes. Today, you can get the binder clip, treasury tag, bulldog clip, brass fastener, and much more. Consider this when selecting.
Printers and scanners
These have become very common and necessary in any organization. As a matter of fact, where there is a lot of work involving papers, you will see the usage of printers and scanners becoming more usual. Now, you have printers and scanners equipped with the latest technology that helps increase productivity and efficiency.
Are these office supplies assets or expenses?
Well, the answer is simple. The office supplies in Houston are considered a current asset until the point at which they are used. After they are used, office supplies are converted to an expense.