Deductions & credits

It is always better to have separate accounts but if you have the financial details for the expenses, be it cash and a paper receipt, or her credit card detail, those are all audit trails that can demonstrate expenses. 

A rug for the office and a projector you use for business can both be entered in Assets and you can determine if they should be expenses this year or depreciated over several years. 

If you do not see Assets click on the down arrow by Less Common Expenses. 

There are two sections for food, snacks, or coffee, depending on if they were for your clients or your employees.  If it was just for your use, they would not be expenses for the office. 


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