Quickbooks and laundry

[Markus B]

I searched the archives, online and QB help, and can't find an answer for this. I want to track my laundry deduction in Quickbooks, but since we do the laundry at home, there is no specific out of pocket expense, just a formula and tally of loads.

How do I track this in QB? Does anyone do this and can you step me through it? I'm sure it's a simple answer, but I've really gone vapor on it.

S

 

[mIsTy bEeBeE]

I'm still hopeful someone around here knows how to do this...

 

[Preggers]

Ummmmmmmmm I forgot the original question, but I just deduct the soap expense.

 

[Mahal]

I use quicken and deduct all laundry expenses ie soap, bleach, and repairs --under the classification of "laundry or Janitorial". The utilities ie water, elect and gas are taken as a perceneforum.xxxe of our year totals of our home utility bills.

 

[lil_tiger]

When I paid someone to do my laundry it was $3.50 per load and I supplied the supplies. Now that my office is in my home I claim the supplies and a perceneforum.xxxe of the utilities. If you have an office not attached to your home and you do your own laundry at your home you can take a deduction of what it would costy you to have the laundry done for you - for me that would be $3.50 per load plus your supplies.

As far as quickbooks goes, I actually didn't keep it in quickbooks when I was doing it myself (although I do us quickbooks and have for several years and used it when I was paying someone else to do laundry) I just kept track of it and at the end of the year told the accountant how much it was. You can figure how many massages you can do per load and average - you will have your appointment book to show how many loads you should have averaged that year.

As always, I am not a tax specialist -

healingtouch

 

[Angry:(]

You need to pay yourself

The important thing is that your books reflect reality.

You can buy your own detergent and pay for it from your business account. That creates an expense and an offsetting reduction in cash.

As for your utilities and time, you need to write yourself a check so the books balance.

If you just create an expense without actually taking money out of the till, then your books will be out of balance.