Category names for Board Game Publisher

jamesroberts · ‎July 29, 2021

Hi

I'm a board game publisher and I'd be infinitely grateful if someone could help me with choosing the right category for my transactions.

Here is what I'm struggling with:

1. Once in a while I need to take out a director's loan from my current account. How do I class it?

2. Email/Website Domains and Servers- are they subscriptions or shall I create separate categories?

3. Sometimes I buy some game components to experiment with them and see if I can use in my games, what should I call them? Experimental game components or maybe just supplies?

Thank you very much for your help,

James Roberts

Rustler · ‎July 29, 2021

1. create a liability account for the loan, make the loan payment to yourself and use that liability account as the expense (reason) for the payment. When you repay the loan, make a deposit and use that same liability account as the source account for the deposit

2. they are expenses, I put internet expense as a sub account of utility expense

3. create an expense account called R&D Expense and use that (R&D = research and development)

View solution in original post

Rustler · ‎July 29, 2021

1. create a liability account for the loan, make the loan payment to yourself and use that liability account as the expense (reason) for the payment. When you repay the loan, make a deposit and use that same liability account as the source account for the deposit

2. they are expenses, I put internet expense as a sub account of utility expense

3. create an expense account called R&D Expense and use that (R&D = research and development)

jamesroberts · ‎July 31, 2021

Fantastic! Thanks a lot!

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Category names for Board Game Publisher