Misc gasoline rec
where should I enter my misc gasoline rec?
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bk8D0YVVqr4iKgacwZ5xHE
08/04/11 4:48pm PDT
Viewed by asker 08/15/11 6:16pm PDT
Viewed by asker 08/15/11 6:16pm PDT
4 Replies
GP0142
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08/04/11 5:01pm PDT
under auto expenses then when you are preparing the taxes you may decide if use the actual costs or IRS mileage standard reimbursement. keep the cost of parking & tolls separate as these costs are reported separate on your taxes.
Marina Martin, EA MBA
www.lastregaaccounting.com
www.lastregaaccounting.com
08/04/11 5:28pm PDT
Can you tell me where I enter these, like is it under vendors? I pay all my expenses with a debit card, I do not carry any charge cards for my business. I either pay cash or use my debit card for all expenses relating to my company
08/04/11 7:03pm PDT
in the Chart of Account make sure there is an account called AUTO EXPENSES then ltwo subaccounts under it: GASOLINE , PARKING & TOLLS
when you use the check register to record your bank transaction you credit checking account and DEBIT Gasoline
dhhcpa
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08/04/11 10:49pm PDT
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If your debit card is tied to your bank account, go to write checks, enter dc for the check number, payee is optional, account is fuel or auto and enter the amount.
Ohhhh, Faerie Dust!!
