[GNC] About bookkeeping and claiming non-currency expenses.

[Christopher Lam]

On Fri, 17 Apr 2020 at 15:53, Rich Shepard <rshepard at appl-ecosys.com> wrote:

> What I do for non-cash donations (to Goodwill, for example) is enter the
> value in an expense account called 'Donations - non-cash'. You could have
> expense accounts for milage and volunteer time if appropriate. (I have run
> my consultancy from home for 27 years and have separate books for personal
> and business transactions.)
>

But what lies at the other end of mileage? eg drive 20km for visiting
client & back, claim $0.50/km, means you write $10 mileage claim for today
and deduct what account?

> For example, you have personal auto expenses that may or may not be
broken out into R&M, Fuel, etc. Those are paid cash/check/charge and are
accounted for in full

No. e.g. auto expenses can be either percentage business use of car (i.e.
labour intensive, track all motoring expenses) or simplified dollar per
business km. I wish to claim for dollar per expense.