Expense Accounts

[FireFly]

--- On Tue, 11/9/10, Dennis Powless <claven123 at gmail.com> wrote:
> 
> Do I need a separate expense accounts for interest on each
> loan, and
> for finance charges for each credit card.  Or, for
> bank fees such as
> admin fees etc...

As per the prior answer, it's entirely upto you what you (and what you need to track for any tax/accounting implications).

I track all mine to single accounts, except my mortgage interest since that's a tax deduction that I like to have an idea of the amount for year end.

Just to check, you know your loans are all liabilities right, not expenses? The interest payments are any expense, but the actual loan isn't.

- James Duerr

E-mail: FireFlys_98 at yahoo.com
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