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LittleScholars 09:39 AM 01-23-2019
Originally Posted by lovemykidstoo:
So if I go by what I have above, the categories that would be t/s% would be: ulitities, repairs and maintenance, kitchen supplies, household supplies, cleaning supplies.

My 100% would be: Toys and craft materials, gifts, daycare insurance, activity expenses.

I'm not sure about office expenses because some things are 100% for daycare and some are used by everyone in my household.

So should I only have 100% Business Expense, T/S Business Expense and that's it? I thought that threw red flags to pile things into too few of categories?
I'll throw this out there in case this is helpful. I don't lump expenses into T/S or 100% categories; instead, as I review each receipt, I mark the receipt and do that math. Sometimes a book of stamps I buy is JUST for daycare because I'm sending out some type of mailer (100% business) and sometimes that book is for my family, as well (T/S). Sometimes I buy a baby item that I use during non-daycare hours (T/S), and sometimes it exclusively lives in my daycare (100%).

I do break out my categories quite a bit. Although I may not need to, it helps me compare what I spent from year to year. My CPA gives me a custom packet with my year-end totals fro them previous year so I can compare this year's expenses.
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