How do I use QuickBooks to keep track of all the small things?
I am using QuickBooks to track things like revenue, expenses, customers, and vendors for my lawn care and snow removal business. The business is less than a year old at this point, so I'm a new business owner and user of QuickBooks. I need to know how to track cell phone purchases and monthly bills for cell phones that are primarily used for business purposes. Would cell phone charges be a utility or office expense? Also, how are meals tracked?
You will set up your various expenses on your chart of accounts. Direct expenses are classified as a "type" of cost of goods sold and overhead expenses are classified as a "type" of expenses. Your cell phone can be set up as a telephone expense account. Your meals/entertainment should be classified as an expense as well. The goal is being able to understand where your money is being spent on the various activities. I would encourage you to work with an accountant that can help ensure your file is being accurately input and they can work with you to understand what the reports mean.
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