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January 9, 2022
Question

What category should I choose for "Interest Charge Purchases" on my credit account?

  • January 9, 2022
  • 1 reply
  • 0 views

After selecting "Business", what category should I choose?

 

1 reply

Adrian_A
January 9, 2022

Good day, 32SNT23.

 

The Interest Charge Purchases is considered an interest in a Schedule C categorization. However, I'd still recommend reaching out to your accountant as to what specific interest it belongs.

 

I've added this link for more information about Schedule C categorization: Schedule C and expense categories in QuickBooks Self-Employed.

 

Keep me posted whenever you have other concerns. I'll be around!