Should I add vet bills under repair and maintence for my horse farm? I want to know how to categorize vet expenses, farriers, and animal feed in chart of accounts.

Hi there, Jayson. I can help you categorize your expenses for your horse farm in your Chart of accounts (COA).

When categorizing vet bills, farrier expenses, and animal feed, it's important to create categories that accurately reflect your business operations. You'll first need to make these accounts in your COA in QuickBooks Online (QBO).

Here's how:

1. Go to the Gear icon on the top right corner of your QBO.
2. Select Chart of Accounts. 
3. Click the New button to create a new account.
4. Select the Account Type from the dropdown menu.
5. Choose the Detail Type that most accurately describes the account.
6. Add a Name and Description for the account.
7. Click Save and Close.
8. Repeat steps 1-7 for the other accounts.

I've also added a screenshot for your visual reference. 

Moreover, I'd recommend contacting an accountant if you're unsure what type of account and detail type you want to assign to every account.

After setting up the expense accounts, you can create a bill  for the expenses and mark it as paid. If you need to review the bills under the categories you've set up, you can access your Chart of Accounts, find the vet accounts, and click Run Reports.

Here's how:

1. Go to the +New icon, then select Bill.
2. Select a vendor from the Choose a vendor dropdown.
3. On the Category field, choose the account you created earlier.
4. Enter all the necessary information.
5. After creating the bill, go to the Expenses tab.
6. Hit Bill. Then go to the Unpaid field, and find the bill you created.
7. Click the dropdown arrow under the Action column.
8. Select Mark as paid.

I've also added a screenshot for you visual reference. 

In addition, you can refer to this article to learn how to upload your receipts in QBO: Upload your receipts to QBO.

Comment on the post if you still have concerns about your bills. I'm always here to help. 

@jaysondriscoll-y  In your case, the easiest template you could use for expense categories would be the Schedule F; that is what you will be filling out when you do your income taxes related to the horse farm.

For instance, there are explicit lines on the Schedule F for 'Feed Purchased' and 'Veterinarian'.

I would imagine Farriers would go under Other Expenses with their particular breakdown, but honestly, as long as you know what each expense category is and can either map them to the appropriate categories on your Schedule F, or explain it to your income tax preparer, you'll be fine.

Ideally, you would group your expenses together so that they total up to go into one of the Schedule F lines. Sub-accounts are very useful for that.

@jaysondriscoll-y  To be clear, when I referred to Farriers as best suited to Other Expense, I was referring to the Other line on the Schedule F, not the Other Expense account type in QuickBooks.