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Level 2

Chart of Accounts & Schedule C

I have setup my chart of accounts to align with my Schedule C (main expense account reads exactly as the expenses on schedule c and subaccounts for a little more detail). I am stuck on these last few items in where to categorize them in the COA as well as where they would fall on the Schedule C for taxes.

1. Quickbooks subscription payment

2. Quickbooks payroll subscription payment

3. Nextiva (Its an app/software we use that provides us a seperate business line on our cell phone for a monthly fee. It has other stuff too like fax, texting, etc.

4. Nearmaps (a 3rd party website/software that allows us to use advanced satellite imagery to map and measure yards to do estimates) This is an annual subscription payment to use the program.

5. One time purchase of a vanity phone number to use as the business number.

6. Classroom textbook & study guide we purchased for owner to get his pest control license and ornamental turf license.

 

Any help is appreciated.

Solved
Best answer March 12, 2020

Best Answers
Highlighted
Level 15

Chart of Accounts & Schedule C

@PITGLS2019 

 

1. Other expenses: subscriptions
2. ditto

3. I list internet as a sub account of utilities just like elect, gas, etc, so

3. Utilities expense>  internet expense
4. ditto

5. Office expense

6. Taxes & Licenses

View solution in original post

3 Comments
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QuickBooks Team

Chart of Accounts & Schedule C

Hi there, @PITGLS2019

 

Welcome to the Community. Currently, Schedule C for category only works in QuickBooks Self-Employed (QBSE). Read this topic for more details: Schedule C Categories

 

If you're not sure what QuickBooks version should you use, read and learn through this article: Should I use QuickBooks Self-Employed or QuickBooks?

 

For additional insights, you may check out these articles: 

 

Feel free to message again if you have additional questions. We're always delighted to assist. 

 

Highlighted
Level 15

Chart of Accounts & Schedule C

@PITGLS2019 

 

1. Other expenses: subscriptions
2. ditto

3. I list internet as a sub account of utilities just like elect, gas, etc, so

3. Utilities expense>  internet expense
4. ditto

5. Office expense

6. Taxes & Licenses

View solution in original post

Highlighted
Level 2

Chart of Accounts & Schedule C

Thank you! You are awesome as always!!

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