Let's talk setting up categories under business expenses

Discussion in 'Business Operations' started by walker-talker, Jan 13, 2011.

  1. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Posts: 4,771

    Just curious how others have some of their catergories setup. For example, do you use a main category titled Marketing with a sub-category titled Advertising? If so, what other categories do you have under Marketing? Research? Consulting?. Right now, most everything is just under Advertising.

    Also, do you have a main category titled Insurance and then sub-categories titled Auto, Equipment, General Liability, Pesticide or do you have Insurance a sub-category under all those I mentioned...like Auto, Equipment...etc.?

    I know instead of a main category titled Auto, with sub-categories of Maintenance, Fuel, Insurance.... I will have a main category with each vehicle this year, but the same sub-categories for each.

    I guess it really doesn't matter as long as it's all recorded. I was just curious how you others did it.
  2. DistinguishedLawn

    DistinguishedLawn LawnSite Member
    Posts: 8

    I have a decent case of OCD and I have a lot of accounting courses under my belt, so I like my books to be as detailed and informative as possible. I have a section for Advertising Expense, and everything falls under that main category...in the proper subcategory. As subcategories, I have "Vehicle Signage", "Internet Advertising", "Mailers and Brochures", "Website Expense" and so on. I also have Insurance Expense, with subcategories of "Auto Insurance", "General Liability", "Health Insurance", "Obamacare"...whoops, scratch that one, HAHAHAHAHA.

    I try to keep my main categories basic and fairly limited, so my sub categories can be detailed and provide good breakdowns of where money was actually spent.
  3. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Posts: 4,771

    Yeah..I have OCD too...lol. I think I will do you do like you said. Insurance then break it down into subs. Also with Advertising...I don't think I will have a seperate main category as marketing...just keep it simple. I have my subs listed as Yellow Pages, Postcards, Flyers, Business Cards, Flags and so on. I don't have any formal education in accounting, but by dad does and is a retired IRS accountant and now have his own business...so I guess I inheirted his accounting gene.

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