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joesanders95
Level 1

Allowable vs Disallowable Expenses

Hello!

 

I am a freelancer and visit various businesses, meaning I need to buy food/drink on sites etc - what do I expense these transactions as on Quickbooks? If I put in Meals and Entertainment they fall under disallowable expenses?

 

Secondly I recent bought an office desk for working from office - I listed the cost of the desk under home office expenses which has put in disallowable expenses? Please can someone advise?

 

Thanks!

Joe

Solved
Best answer November 07, 2020

Accepted Solutions
Angelyn_T
QuickBooks Team

Allowable vs Disallowable Expenses

Thank you for raising your concern here on the Community page, @joesanders95.

 

The system looks at your current income and allowable expense to quantify the profit. Some types of expenses aren't business allowable depending on the business operation, entity, and local regulations that apply. In your case, I would suggest consulting your accountant to help categorize your expenses correctly (allowable/disallowable).


Also, here's an article you can read more about the SA103F deduction categories you can claim as allowable expenses for self-employment.

 

Please keep in touch if there's anything else I can do to help you with QuickBooks. I've got your back. Have a great day!

View solution in original post

1 REPLY 1
Angelyn_T
QuickBooks Team

Allowable vs Disallowable Expenses

Thank you for raising your concern here on the Community page, @joesanders95.

 

The system looks at your current income and allowable expense to quantify the profit. Some types of expenses aren't business allowable depending on the business operation, entity, and local regulations that apply. In your case, I would suggest consulting your accountant to help categorize your expenses correctly (allowable/disallowable).


Also, here's an article you can read more about the SA103F deduction categories you can claim as allowable expenses for self-employment.

 

Please keep in touch if there's anything else I can do to help you with QuickBooks. I've got your back. Have a great day!

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