[SABBELLAH]

Please I need your help on how to catergorise these expenses in order.Examples of these are as follws:Motor Vehicle exp,Telephone Bills,Truck Hire,Clearing Charges,Travelling exp,Stationery,Administration exp,Accountancy Services,Fuel exp and Bank charges.Help me match up with the following Management and Consultancy Fees,Technical Fees,Lease Charges and if no matches just put it on other expenses.

[morgaine300]

I really don't get it. Those categories you're supposed to match up with are not, um, "official" categories of expenses. That is, we catorgize things by cost of sales, other selling expenses, admin expenses - that type of thing. Those categories are a choice of management simply because they want them categorized that way. Meaning management gets to define them and what types of things they want included in them, and it would be dependent upon the type of business too.

Lease Charges doesn't even make sense as a category. A lease is just an expense, not really a category. I see nothing I would call "technical" - management may have their own ideas about what they would choose to call "technical," and it could also depend on the type of business. As for "management and Consultancy Fees," depends on what they mean by it. I would take that to mean fees they are paying to third parties that are related to management and consultancy. And the only thing I'd maybe stick there is the accountancy services. (I personally would classify that as Professional Services, along with legal services and the like. Although I usually don't use such categories.) Or, I could see that being interpreted as meaning their own management related costs (not being paid to a 3rd party), like the administative costs. But since the category includes consultancy, that wouldn't be my first guess.

If you haven't figured it out already, I think this is much a matter of opinion, and whoever made these categories had their own ideas of what the categories meant to them. The very fact that nearly everything there I'd put into "other" is saying I disagree with what someone is meaning by those categories.

As for "in order," there really isn't any order. I have my own system for how I like my expenses set up. But it's a preference, not a rule.

That's my opinion, but I think that's exactly what you're going to get - just opinions.