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Expense Categories

Expense Categories

Category Type Category Name Parent Category Category Description
Expense Stripe Clearing
Accounts Payable Accounts Payable

This is an account of all the money which you owe to others like a pending bill payment to a vendor,etc.

Accounts Receivable Accounts Receivable

The money that customers owe you becomes the accounts receivable. A good example of this is a payment expected from an invoice sent to your customer.

Bank Business Checking (5277)
Bank Business Savings (8176)
Cash Petty Cash

It is a small amount of cash that is used to pay your minor or casual expenses rather than writing a check.

Cash Undeposited Funds

Record funds received by your company yet to be deposited in a bank as undeposited funds and group them as a current asset in your balance sheet.

Cost Of Goods Sold Cost of Goods Sold

An expense account which tracks the value of the goods sold.

Credit Card Southwest Visa (6362)
Equity Drawings

The money withdrawn from a business by its owner can be tracked with this account.

Equity Opening Balance Offset

This is an account where you can record the balance from your previous years earning or the amount set aside for some activities. It is like a buffer account for your funds.

Equity Owner’s Equity

The owners rights to the assets of a company can be quantified in the owner”s equity account.

Equity Retained Earnings

The earnings of your company which are not distributed among the share holders is accounted as retained earnings.

Expense Accounting
Expense Accounting Fees
Expense Advertising And Marketing

Your expenses on promotional, marketing and advertising activities like banners, web-adds, trade shows, etc. are recorded in advertising and marketing account.

Expense Air Conditioning
Expense Airplanes, Boat(s)
Expense Anti-Theft
Expense Artwork
Expense Assistants
Expense Auto and Truck – Gas and Oil

Transportation related expenses like fuel charges and maintenance charges for automobiles, are included to the automobile expense account.

Expense Auto License & Registration
Expense Auto Repairs & Maintenance
Expense Auto/Truck – Maintenance and Repairs Auto and Truck – Gas and Oil
Expense Automobiles (Leased or Owned)
Expense Bad Debt (Including Debt to Shareholders)

Any amount which is lost and is unrecoverable is recorded into the bad debt account.

Expense Bank Fees and Charges

Any bank fees levied is recorded into the bank fees and charges account. A bank account maintenance fee, transaction charges, a late payment fee are some examples.

Expense Bonuses
Expense Bookkeeping
Expense Books
Expense Business Awards & Prizes
Expense Business Cards
Expense Business Consultants

Charges for availing the services of a consultant is recorded as a consultant expenses. The fees paid to a soft skills consultant to impart personality development training for your employees is a good example.

Expense Business License
Expense Business Travel Expenses
Expense Business Utilities (electricity, heat, water, sewage)
Expense Cables
Expense Car Washes
Expense Carpentry
Expense Certified Audits
Expense Child Care (Emergency)
Expense Cleaning
Expense Commissions Paid
Expense Computer Services/Supplies
Expense Contract Labor
Expense Contributions – Charitable (Cash)
Expense Contributions – Charitable (Non-Cash)
Expense Contributions – Retirement
Expense Convention Expense
Expense Copyrights, Royalties
Expense Corporate Meetings
Expense Corporate Retreats
Expense Corporate Seminars
Expense Credit Card Charges

Service fees for transactions , balance transfer fees, annual credit fees and other charges levied on a credit card are recorded into the credit card account.

Expense Credit/Collection Costs
Expense Decorating, Drawings
Expense Delivery and Freight
Expense Dependent Care Plan
Expense Depletion
Expense Depreciation Expense

Any depreciation in value of your assets can be captured as a depreciation expense.

Expense Design Work
Expense Directors Fees
Expense Disability Plans
Expense Discounts Given
Expense Dividend Exclusion
Expense Domain Name
Expense Dry Cleaning
Expense Dues/Subscriptions
Expense Education Assistance Program
Expense Entertainment (50%)
Expense Equipment Rent
Expense Factoring Receivables
Expense Filing Expenses
Expense Financial Consultants
Expense Finder’s Fees
Expense Fire Expenses
Expense Fire/Flood/Hurrican Losses
Expense Firearms/Ammunition (Security)
Expense Fuel/Mileage Expenses

This category is for tracking all the mileage related expenses.

Expense Furniture
Expense Gasoline
Expense General Business
Expense Graphic Design
Expense Health Benefits
Expense Incorporating Costs
Expense Insurance – Liablity
Expense Insurance -Medical
Expense Insurance and auto club dues Auto and Truck – Gas and Oil
Expense Insurance Premiums
Expense Interest
Expense Internet
Expense Inventory

Inventory and Cost of Goods Sold

Expense Invoicing
Expense IT Expenses

Money spent on your IT infrastructure and purchasing computer equipment etc is recorded as an IT and Computer Expense.

Expense Janitor and Cleaning

All your janitorial and cleaning expenses are recorded into the janitorial expenses account.

Expense Landscaping
Expense Legal/Professional Fees
Expense Life Insurance (Group)
Expense Lighting
Expense Limited Partnership Costs
Expense Lobbying Expenses
Expense Local Transportation
Expense Lodging

Any expense related to putting up at motels etc while on business travel can be entered here.

Expense Logo(s)
Expense Losses in Business
Expense Losses on Capital Assets
Expense Machinery and Equipement
Expense Magazines
Expense Maintenance
Expense Management Fees
Expense Marketing
Expense Masonry
Expense Meals (50%)

Expenses on food and entertainment are recorded into this account.

Expense Meals 100%

Expenses on food and entertainment are recorded into this account.

Expense Medical Reimbursement Plan
Expense Meeting Room Expense § 280A
Expense Messenger Service
Expense Miscellaneous Expenses
Expense Moving Expenses
Expense Newspaper
Expense Office Building
Expense Office Construction
Expense Office Expenses
Expense Office Rent
Expense Office Repairs
Expense Office Supplies

All expenses on purchasing office supplies like stationery are recorded into the office supplies account.

Expense Other Expenses

Any minor expense on activities unrelated to primary business operations is recorded under the other expense account.

Expense Parking

The parking fares you pay while on business trips can be recorded under this expense category.

Expense Parking (for others who come to our office)
Expense Part Time Help
Expense Patents
Expense Payroll Taxes
Expense Pension Plans
Expense Permits and Fees
Expense Personal and Property Taxes Auto and Truck – Gas and Oil
Expense Plumbing
Expense Postage

Your expenses on ground mails, shipping and air mails can be recorded under the postage account.

Expense Printing and Stationery

Expenses incurred by the organization towards printing and stationery.

Expense Professional Literature
Expense Public Relations
Expense Records
Expense Refuse Collection
Expense Registration and License Fees Auto and Truck – Gas and Oil
Expense Rent or Lease Expense

The rent paid for your office or any space related to your business can be recorded as a rental expense.

Expense Repairs and Maintenance

The costs involved in maintenance and repair of assets is recorded under this account.

Expense Salaries and Employee Wages

Salaries for your employees and the wages paid to workers are recorded under the salaries and wages account.

Expense Security Alarm
Expense Security Services
Expense Signs
Expense Sponsorships
Expense Stripe Fees
Expense Tax Preparation/Licenses
Expense Telephone Expense

The expenses on your telephone, mobile and fax usage are accounted as telephone expenses.

Expense Theft Losses
Expense Tips & Gratuities
Expense Tolls
Expense Tools
Expense Trademarks
Expense Training (Start-Up/Initial Year)
Expense Training/Education Programs
Expense Travel

Expenses on business travels like hotel bookings, flight charges, etc. are recorded as travel expenses.

Expense Uncategorized

This account can be used to temporarily track expenses that are yet to be identified and classified into a particular category

Expense Uniforms
Expense Utilities
Expense Web Hosting
Fixed Asset Furniture and Equipment

Purchases of furniture and equipment for your office that can be used for a long period of time usually exceeding one year can be tracked with this account.

Income Discount

Any reduction on your selling price as a discount can be recorded into the discount account.

Income General Income

A general category of account where you can record any income which cannot be recorded into any other category.

Income Interest Income

A percentage of your balances and deposits are given as interest to you by your banks and financial institutions. This interest is recorded into the interest income account.

Income Late Fee Income

Any late fee income is recorded into the late fee income account. The late fee is levied when the payment for an invoice is not received by the due date.

Income Other Charges

Miscellaneous charges like adjustments made to the invoice can be recorded in this account.

Income Sales

The income from the sales in your business is recorded under the sales account.

Income Shipping Charge

Shipping charges made to the invoice will be recorded in this account.

Other Current Asset Advance Tax Payment

Any tax which is paid in advance is recorded into the advance tax account. This advance tax payment could be a quarterly, half yearly or yearly payment.

Other Current Asset Employee Advance

Money paid out to an employee in advance can be tracked here till it’s repaid or shown to be spent for company purposes.

Other Current Liability Cash Donation
Other Current Liability Employee Reimbursements

This account can be used to track the reimbursements that are due to be paid out to employees.

Other Current Liability Non-Cash Donation
Other Current Liability Opening Balance Adjustments

This account will hold the difference in the debits and credits entered during the opening balance.

Other Current Liability Other 
Other Current Liability Tax Payable

The amount of money which you owe to your tax authority is recorded under the tax payable account. This amount is a sum of your outstanding in taxes and the tax charged on sales.

Other Current Liability Unearned Revenue

A liability account that reports amounts received in advance of providing goods or services. When the goods or services are provided, this account balance is decreased and a revenue account is increased.

Other Expense Exchange Gain or Loss

Changing the conversion rate can result in a gain or a loss. You can record this into the exchange gain or loss account.

Other Liability Tag Adjustments

This adjustment account tracks the transfers between different reporting tags.

Stock Inventory Asset

An account which tracks the value of goods in your inventory.