Expense Categories

Category Type

Category Name

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Category Description

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Equity	Drawings		The money withdrawn from a business by its owner can be tracked with this account.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