Trying to setup QuickFile for small broker - need to be able to record insurance tax separately, Can’t see suitable category for purchases. Thanks
The chart of accounts are a generic setup for most businesses. As the account is for an insurance broker and it needs to be separate, it may be best to create a new one.
I believe that if it’s in relation to a sale they are making, the ‘Purchases’ and ‘Purchase Charges’ would be suitable.
But, I’m not an accountant so I recommend checking with yours to make sure it’s categorised correctly.
I hope that helps!
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