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sms2friends
December 11, 2018
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How can i record meal and entertainment expenses

  • December 11, 2018
  • 2 replies
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I am getting confused that how can i record expenses for meal and entertainment


i want to record expense for meal which is for employes, and the other one for my guest

let say i paid 1$ for coca cola for my guest how can i record this expense in quickbooks


Thanks

Best answer by SkinnyRaven

Make your expense accounts in your chart of accounts, use those from write checks, enter bills or enter credit card charges to track your expenses.

2 replies

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SkinnyRavenAnswer
December 11, 2018

Make your expense accounts in your chart of accounts, use those from write checks, enter bills or enter credit card charges to track your expenses.

qbteachmt
qbteachmt
December 11, 2018

You need TWO expense accounts.


"Meals and Entertainment" is for the entries that will be reported on your tax form as subject to the 50% limitation.


Coffee and food at the office (supplies expense) and meals at the office for the convenience of the employer (such as making everyone stay and work through lunch) or meals for/with employees (such as an annual review dinner or a Company dinner) are not subject to the 50% limitation, so put them in a different expense account.

    T
    toho-publishing
    November 14, 2019

    What other account could I use for the meals that are not deductible?

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