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June 14, 2020
Question

Hi there, I’m a newbie! I own an afterschool club my shopping is food related. I provide snack for the children What expense does the grocery go understand.

  • June 14, 2020
  • 1 reply
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1 reply

July 2, 2020

Hi @kikiskidzlimited , You can create 3 subcategories of Meals and Entertainment if you wish. Fully deductible, half deductible, not deductible. Post only in the 3 subs, the top level is a summing account. All your business meals are generally 100% reportable on a P&L, it is just the tax return where it differs. I think that was 100% expense as a business meals or  supplies expense. 

 

 

If you're trying to create sub-categories for Meals and Entertainment, you can follow these steps:

 

  1. Click the Gear icon in the located in the upper-right corner.
  2. Below Your Company, click Chart of Accounts.
  3. Click New.
  4. Below Account Type, select Expenses.
  5. Below Detail Type, choose the detail type.
  6. Enter a name.
  7. Put a check mark beside Is sub-account.
  8. Click Save and Close.

 

Read the related article :

Category for meals 

Create sub accounts 

How to record meal transaction 

 

Just comment if you want to ask follow up question. Good day.