Cost of Item + Sales Tax?

[Boymom]

Hi everyone! I just started my in-home daycare and I'm lost on how to organize and add up my receipts. What categories do you use? Ex. Food, cleaning supplies, office supplies, etc. Can crafts go under the office supply category, or does that need to be separate? I'm so lost ! Also, when adding up my cleaning supplies, am I supposed to also add how much sales tax I paid on the item?

[Michael]

Welcome to the forum. Here is a helpful thread: https://www.daycare.com/forum/showthread.php?t=80596

[TomCopeland]

expense categories

Hi everyone! I just started my in-home daycare and I'm lost on how to organize and add up my receipts. What categories do you use? Ex. Food, cleaning supplies, office supplies, etc. Can crafts go under the office supply category, or does that need to be separate? I'm so lost ! Also, when adding up my cleaning supplies, am I supposed to also add how much sales tax I paid on the item?

Here's an article about how to choose what category to put an expense in:http://tomcopelandblog.com/where-doe...nse-categories

Yes, include sales tax in the cost of all items used in your business.

[Boymom]

Thank you both very much! That helps a lot!