Bookkeeping Tip: Categorize Every Expense Properly
When it comes to bookkeeping, how you categorize your expenses makes all the difference. Accurate expense categories lead to accurate financial reports and that clarity is crucial for making smart business decisions.
Whether it’s office supplies, continuing education, software subscriptions, or mileage, every dollar deserves a clear, specific “home” in your books. Vague or messy categories can cause big problems down the line, including:
Missed deductions that cost you money
Financial reports that don’t tell the full story
Stress and confusion at tax time
The more organized your books are, the easier it is to grow your business, save money, and stay compliant with tax regulations.
If your chart of accounts needs a cleanup or you’re unsure how to categorize expenses properly, don’t worry, we’ve got you covered. Reach out anytime for help getting your bookkeeping in order!
BookWise Bookkeeping
Phone 314-325-2478
info@bookwisestl.com