If we made three purchases for office phones of $125 each, is this an office expense, an asset or...?

should I just put it under telephone expense. I'm not really sure about putting it under telephone expense since it's not the telephone service, just the actual telephones we bought

If your an office manager for a large company: it needs to be listed as an asset and depreciated, also you may need to contact your property dept to get an NSN or ID number for each phone to be tracked by property.

Since you ask this question I am guessing that at least you are working at a much smaller company, or you own your own business. In which case, just to keep everything simple and easy to handle, just expense it off one time and forget agbout them being an asset, you will be looking for "office equipment" or something general like that to expense it under. The telephone expense should technically include phone purchases...to include your cell phones and insurance. That's what I do but all my American business is out of Texas.

If your with a large company contact the finance dept.
If its your business, get a CPA pronto, you probably have other expenses your not claiming, like the candy in your candy dish on your desk, or your umbrella...

(\ _ /)
(='.'=)
('')_('')

Depends on your company's policy... We have a policy that says anything under $600 is expensed...

For that amount, I think it should be expensed as office supplies of telephone expense.

According to GAAP (Generally Accepted Accounting Procedures) it should be listed as an asset and depreciated over its useful life.

But if you're not a publically held company most people would expense an item like that.