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JCB22
February 10, 2022
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How do I classify expenses related to property sale

  • February 10, 2022
  • 1 reply
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My client is selling some property and had a survey done of the property. How would you classify this expense?

Thanks

J

    Best answer by McBrideBookkeeping

    Hey JCB22,

     

    In terms of Costs the Survey is no different than any of the other closing costs like Legal Fees, Advertising etc

     

    I would say a Survey is just a Professional fee of sorts as you're unlikely to have "Survey Fees" on your Chart of Accounts unless you use them a lot.

     

    Hope this helps ! 


    Please mark this answer as a helpful solution if it answers your question
    Thanks
    McBride Bookkeeping

    1 reply

    McBrideBookkeeping
    McBrideBookkeepingAnswer
    February 11, 2022

    Hey JCB22,

     

    In terms of Costs the Survey is no different than any of the other closing costs like Legal Fees, Advertising etc

     

    I would say a Survey is just a Professional fee of sorts as you're unlikely to have "Survey Fees" on your Chart of Accounts unless you use them a lot.

     

    Hope this helps ! 


    Please mark this answer as a helpful solution if it answers your question
    Thanks
    McBride Bookkeeping
    J
    JCB22Author
    February 11, 2022

    Thanks for your help.

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