I have bought a domain name for the next two years, around £40. What categorisation would you use in Quickfile to report it? Those from the chart of accounts I feel could work:
Intangible Assets 0100 (in “Assets and Liabilities”)
Hosting Fees and IT Consumables 7506 (in “Overheads”)
I could otherwise create an account in “Direct Expenses”, say “Domain Name Expenses” or “Web Expenses”.
The account I would end up using would eventually also host other related fees such as email hosting (e.g. Google Workspace or Microsoft 365) and server hosting fees.
Because the amount is small (£40) and, I guess, probably not material (significant), I would post it to
Hosting Fees and IT Consumables 7506 (in “Overheads”)
The £40 relates to 2 years, so if you wanted to be very strict about it, you could record a prepayment because some of the £40 will be consumed in the first financial year and the remainder in the next financial year.
But if it were me, I would just expense the £40 to this year’s accounts using that code.