Equipment that will have a life of more than a year is entered as an asset and depreciated over time. So the reason that there is no "Equipment" expense is because you are supposed to enter them there.
That being said, you aren't expected to depreciate a screwdriver even though it will last for (hopefully) many years. You can add an expense for "Small tools and equipment" and enter any little things there.
@gobigdwayne
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