Good morning Guys,
I’m setting up QuickFile to use with our Events Company. Now, I’m hoping to group all our purchases and Expenses for the Shows into One Nominal (Sales revenue nominals have been setup no problem)
My question is, would a ‘Hold All’ Nominal best to be classed as a Direct Expense or a Purchase Nominal?
The Items in question which would be seen as expenses would be:
Hire of venue,
Purchase of Services
Purchases of Equipment / Assets to use for/to the shows.
Would I be best setting up 2 separate nominals for this? 1 as a Direct Expense and one as a Purchase.
We want to be able to drill down at the end of the show and analyse each part.
Thanks in Advance for any help offered.