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jstarwalt
Level 1

How do I categorize BOAT gas - Fishing Guide Service

I run a fishing guide service, and need to figure out the appropriate category to categorize gas purchased for the boat used for fishing trips. 

 

Any guidance would be appreciated. Thank you!

2 Comments 2
Jen_D
Moderator

How do I categorize BOAT gas - Fishing Guide Service

Thanks for posting here, @jstarwalt.

 

I want to share the steps to help you out record your gas purchase. For this, you can record it as a fuel expense in QuickBooks.

 

Here's how:

 

  1. Tap the Gear icon.
  2. Choose  Chart of Accounts.
  3. Click on New in the upper-right corner of the page.
  4. Below Account Type, choose Expenses.
  5. Below Detail Type, select Auto.
  6. Enter a name for the account (example: Fuel).
  7. Press Save and Close.

 

We wanted to make sure everything is accounted for correctly, so your financial reports are accurate. Since this issue requires in-depth accounting processes, we do recommend that you reach out to an accounting professional. We can only provide the steps you need to do in QuickBooks, but handling your books is best assisted by your accountant.

 

If you don't have one, we can help you find someone to help you. You can visit the following link to locate accountants based in the US: https://quickbooks.intuit.com/find-an-accountant/

 

Let me know if you need more help with recording the gas expense. I'll be around for you.

Rainflurry
Level 15

How do I categorize BOAT gas - Fishing Guide Service

It's an expense. You can classify it as 'Supplies Expense' or something similar.  Or, if you want to be able to track fuel cost specifically, you can create a 'Fuel Expense' account and use that.    

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