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September 7, 2024
Question

I run a small business where we purchase inventory in small batches. Which category for expense should I use?

  • September 7, 2024
  • 1 reply
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1 reply

September 7, 2024

I've got a material that you can refer to help you decide which category to use, @audinphotography.

While we're unable to provide which expense category to use for a specific transaction, you'll want to check the Schedule C Categories breakdown to determine which one matches, and use it in tracking your transactions.

Moreover, I'd still recommend consulting your accountant for further guidance and to ensure your books' accuracy. If you’re not affiliated with one, you can check our ProAdvisor page and we’ll help you find there.

Additionally, you can check out this article for reference on how to categorize transactions you download from your bank: Categorize transactions in QuickBooks Self-Employed.

Furthermore, you can check out this article that lists all the changes to expense categories: Updates to expense categories in QuickBooks Self-Employed.

You can count on me if you need additional guidance in managing your transactions or other QuickBooks concerns. I'm always here to assist you.