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Thread: Expenses

  1. #1
    Euphoric !
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    Expenses

    Started tallying my expenses...good times. I purchase everything for daycare separately and therefore have separate receipts. When I bought food, paper towels, kleenex etc though this is always on one receipt. Should I separate this amount when I tally (really don't want to scan every receipt looking for non food items) or can I just have one total?

    Thanks

  2. #2
    Euphoric !
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    When you put the info down on the tax form it simply says "supplies" and includes food, craft, paper towels, etc. so only reason to separate is for your own info.

  3. #3
    Expansive...
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    My accountant requested that I separate it all, so when I go to walmart or dollarama for example I could have 4 or 5 different claiming categories on one bill. I just write tally for each category on top or back of each receipt. The printout I get of my tax return shows all categories with their year end amounts separately. The straight 100% claim categories I was told to use areromo&advertising/field trips/food/house supplies/insurance/membership fees/office/professional fees/repairs&maintenance/phone/training&workshops/play supplies/miscellaneous. Things like paper towels or cleaning supplies would fall under "house supplies". Craft supplies/toys would be "play supplies" It's a pain to separate, so I stay on top of receipts every couple of weeks, and don't forget to apply the appropriate taxes too.
    Last edited by Busy ECE mommy; 01-30-2014 at 08:01 AM.

  4. #4
    Expansive...
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    Sorry, didn't mean for the smiley face to be there-it should read "promo&advertisi ng"

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