We’ve all heard the saying – less is more. And, more often than not, it’s true. While it’s good to be detail-oriented when sorting your business expenses by category, there’s a fine line where it can become over-categorization.
For instance, when categorizing office supply expenses, it’s not necessary to break them down into separate categories for fax paper, letterhead, printer cartridges, etc. All these items can simply be listed under Office Supplies.
Keep it simple and you’ll save yourself – and your bookkeeper – time in the long run!