Direct expenses
direct expenses
u can create office supplies ledger under indirect expenses group
Petrol expenses are recorded in the profit and loss account under the category of operating expenses or cost of goods sold (COGS), depending on their nature. If petrol is used directly in the production of goods, it may be classified under COGS. Otherwise, it is typically listed as a selling, general, and administrative expense (SG&A). Proper categorization helps in accurately assessing the company's profitability.
Indirect expense...
For individuals a cheque or current account.
No, you cannot use a Health Savings Account (HSA) for expenses from previous years. HSAs are meant to be used for current and future qualified medical expenses.
Prepaid expenses are the part of nominal account expenses which are not used during the current accounting period. They cannot be charged to profit and loss account as per matching concept. They find place in balance sheet and written off in the next accounting period.
No, you cannot use your Health Savings Account (HSA) for past expenses. HSAs are meant to be used for current and future qualified medical expenses.
Miscellaneous expenses is used to know theunwanted expenditures at the time of year ended Profit and Loss account.
A 529 account is an account that is used in the United States for people who are saving for higher education expenses. Check out their official website, 529, for more information.
A Converdell Account is used for serious savings. It is also known as Converdell Education Savings Account. It is meant to help parents and students save for education expenses.
No, you cannot use a Health Savings Account (HSA) for out-of-network medical expenses. HSAs are typically used for qualified medical expenses within the network of providers approved by the HSA administrator.