Recording Catering Services as a Donation

offthehoofbbq_1969offthehoofbbq_1969 Member Posts: 2

I provide catering services and food on occasion as a donation. How can I account for ALL the expenses associated with the catering? I am currently creating an Invoice but I'm not sure if this is correct. The "value" of the catering is greater than just the food costs. I want to accurately account for the full value of the donation. Food costs, labor, travel, etc.

Comments

  • eliteacchkeliteacchk Member Posts: 31

    Entering a vendor's invoice by type (costs, labour, etc.) is certainly one way of doing it since you still have to settle these expenses eventually. If you have a need to separate these costs from your normal operations for management ot tax purpose, you can create individual expense accounts in your Chart of Accounts to capture these expenses.

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