Which expense account to use?
I'm a photographer. When someone orders a print, into which account should I put the lab fees for printing? I don't think that's what the "printing and reproduction" account is intended for, so what is???
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cm-gMmsf4r4yUOacwZ5xHE
01/26/12 12:44pm PST
Viewed by asker 01/30/12 2:49am PST
Viewed by asker 01/30/12 2:49am PST
2 Replies
01/26/12 12:56pm PST
The solution
lab fees are a cost of sales transaction. Therefore, you would expense lab fees in the cost of goods section of your chart of accounts.
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01/27/12 3:36pm PST
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The chart of accounts is entirely yours to customize.
You can keep that account, or edit it to become a COS account, or set up your own new account.
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