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How do I classify expenses related to property sale

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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

QuickBooks Online

McBrideBookkeepingAnswer

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

McBrideBookkeepingAnswer

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

Thanks for your help.

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