Where would one catergoize Work Clothes on the chart of accounts
- posted
18 years ago
Where would one catergoize Work Clothes on the chart of accounts
Depends on your chart of accounts. Select an appropriate existing account, or create a new account if you need to keep track of that expense.
Supplies may be a good choice. Uniforms may be another.
Wayne Brasch
"Scraps" wrote
Most likely as an expense.
If one is required to purchase and maintain (eg. have cleaned at cost) I would put that either to an existing "Other Expense" account, or create an expense account called "Work Clothes Expense". I would then expense the purchase, alteration and repairs, and cleaning expenses to that account.
As with other posts, I do however strongly suggest you speak to your accountant prior to implementing any changes.
Stephanie, I always recommend that no one use "Other Expense: or "Miscellaneous Expense". In the US, IRS really likes to launch into and tear this type of account apart looking for personal items among other things.
Wayne Brasch
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