How do I use QuickBooks to keep track of all the small things?
Opinions expressed by Entrepreneur contributors are their own.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.