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Level 1

How can i record meal and entertainment expenses

I am getting confused that how can i record expenses for meal and entertainment


i want to record expense for meal which is for employes, and the other one for my guest

let say i paid 1$ for coca cola for my guest how can i record this expense in quickbooks


Thanks

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Best answer 12-10-2018

Accepted Solutions
Level 8

Make your expense accounts in your chart of accounts, use...

Make your expense accounts in your chart of accounts, use those from write checks, enter bills or enter credit card charges to track your expenses.

View solution in original post

4 Comments
Level 8

Make your expense accounts in your chart of accounts, use...

Make your expense accounts in your chart of accounts, use those from write checks, enter bills or enter credit card charges to track your expenses.

View solution in original post

Level 15

You need TWO expense accounts. "Meals and Entertainment...

You need TWO expense accounts.


"Meals and Entertainment" is for the entries that will be reported on your tax form as subject to the 50% limitation.


Coffee and food at the office (supplies expense) and meals at the office for the convenience of the employer (such as making everyone stay and work through lunch) or meals for/with employees (such as an annual review dinner or a Company dinner) are not subject to the 50% limitation, so put them in a different expense account.

Level 1

Re: You need TWO expense accounts. "Meals and Entertainment...

What other account could I use for the meals that are not deductible?

Level 1

Re: You need TWO expense accounts. "Meals and Entertainment...

so, what expense category you recommend to enter meals that are not deductible?

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