In order to do my job I have to do 1.5 hours of supervision every month (by law and in regulation with the professional body I’m registered with) in which a supervisor looks over my work I have done. I always recorded this fee under “Professional Fee” but now I recognised that professional fee is not a allowable expense.
Under which category can I record this to have it under the allowable expenses umbrella (if possible)?
Any help is welcome.
Thank you very much
You can always create your own category in the chart of accounts similar to professional fees.
Question, why is it not allowed? Because of your professions rules or because of something else?
Thanks for your prompt reply.
The expense Supervision is allowed but the 7603 Professional Fees ledger, where I recorded this expense, is excluded in quickfile and properly in other bookkeeping software as well. If I go to the tax summery page and click on “Add Backs” there is Professional Fees listed (excluded from allowable expenses). I read a little bit on the HMRC website and found out that a lot of so called Professional Expenses are not allowed. I think that is the reason why it is not allowed by default in quickfile. I also have Professional Fee expenses which are not allowed, so, I look now for a ledger where I can post my Supervision fees. But as you said I may create/open another expense ledger called supervision or so.
Anyway, Thanks again for your help.