Category queries for software and Costco membership

Accounting
1

I am in the process of moving to Quickfile and have a query about some of the purchase categories/nominal codes

What categories should the following go under:-

Cloud services such as Dropbox, Evernote, CRM
Google Apps
Costco Membership

My accountant says all but Costco should go under internet and Costco to go under subscriptions, but it doesn’t sound correct to me?

Any thoughts?

2

I would put the first two under ‘Hosting and IT Consumables’. They’re fairly generic categories so if you prefer you can add a new nominal account that is more specific.

Costco could certainly go under subscriptions yes.

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3

Thanks Glenn :smile:

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4

How about the category for accounting packages such as Quickfile?

Sorry about this, I just want to get things correct from the start LOL

5

Either “Subscriptions” or “Hosting & IT Consumables”. Whichever you choose, they’re both P&L overheads so will appear in the same place on your accounts. It’s more for your own reporting purposes, the accountant won’t be too concerned as long as they don’t end up on the balance sheet.

Also if you decide to re-code them later you can now do this in bulk from the ledger detail screen.

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