Boring subject, I know, but...
I am looking to set up my company's accounts shortly and would appreciate some guidance from more established business operators. I don't know if there is any standard practice in this field, and indeed if it varies from country to country (I'm UK-based), but I need to set up a list of expenditure categories for my bookkeeper. So far, with input from my accountant, I've come up with the following:
- Office supplies
- Rent & utilities
In other people's experience, is this sufficient, or do people find a more detailed breakdown useful? Equally happy to hear that it really doesn't matter too much :-).
Thanks in advance - Steve.