Expenses
I have a Quickbooks Online Advance Account for my healthcare practice. I am a sole-member PLLC presently still doing taxes as sole proprietorship. I don't have employees, I have contractors. Since my taxes are presently one-in-the-same as sole proprietorship, I have created a class called "Personal Itemized Deductions for Schedule A" and subclass from there as "Personal healthcare expenses", "Personal Mortgage Interest and Taxes", etc. However, when scanning in the documents/receipts, it asks for a "category". Do I label these items as "Personal Expenses"? This shows under "Owner Draws", however, the items were paid for under my personal account and not out of the business account. I want to be able to use my QB fully to represent and store my documents for tax purposes as well but I don't want the data to interfere with my business "books". Suggestions? I track all my documentation in QB for my accountant to help me keep up with for the year so when tax time comes, everything is neatly organized and labeled in one location.
