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Zala98-0
Level 2
posted
‎October 28, 2024 05:04 AM
last updated ‎October 28, 2024 5:04 AM

Transaction

Hello Everyone, Here I am asking question again. I'm dealing with a Spa business and just wondering what's the proper category I should put the candles to? This is the first time I'm seeing a transaction spent on a candle. Is it going to COGS or to Office Expense? Your help will be very much appreciated.
 
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Best answer October 28, 2024
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kabel1657
Level 3
‎October 28, 2024 05:42 AM

Transaction

Hey @Zala98-0,

 

Great question. For a spa business, candles are typically part of the ambiance, so they usually go under "Office Expenses" or "Supplies" rather than COGS, since they're not directly resold or part of a specific treatment.

 

But if candles are sold to clients, you’d classify them under COGS. It’s all about the purpose—hope this helps!

 

P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?

 

Google my username, @kabel1657, to see my proven track record!

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4 Comments 4
kabel1657
Level 3
‎October 28, 2024 05:42 AM

Transaction

Hey @Zala98-0,

 

Great question. For a spa business, candles are typically part of the ambiance, so they usually go under "Office Expenses" or "Supplies" rather than COGS, since they're not directly resold or part of a specific treatment.

 

But if candles are sold to clients, you’d classify them under COGS. It’s all about the purpose—hope this helps!

 

P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?

 

Google my username, @kabel1657, to see my proven track record!

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Zala98-0
Level 2
‎October 28, 2024 05:45 AM

Transaction

Thank you. Want to make sure that I'm doing it correctly. Is Office Supplies & Software good to book this transaction to?

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KimAnnVA
Level 5
‎October 28, 2024 04:14 PM

Transaction

Office Expenses, Business Expenses, Sundries.   Don't forget you can edit your chart of accounts names. 

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FishingForAnswers
Level 9
‎October 28, 2024 04:23 PM

Transaction

@KimAnnVA  This is a great point, and one a lot of people get hung up on; the IRS is hardly going to fine you for making your chart your own.

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