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When would I add an Other Expense account?

In addition to adding Other Expense accounts to track corporation taxes, penalties, and legal settlements, you can use them to track any expense that is occasional, or that doesn't have a direct impact on your business, such as:

  • Traffic tickets
  • Lawsuits

You typically exclude other expenses from your ongoing business decisions. In reports, other expenses are reported separately from your regular business expenses, so you can easily distinguish between those that are ongoing, and those that are occasional.

See also

KB ID# H_COA_INFO_ADD_NEW_ACCOUNT_OTHER_EXPENSE
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