What expense category is parking?
Audrey Carroll, Senior Manager, Accounting, RampSee how Ramp automates accounting for 25k+ businesses
There is no definitive answer to this question, as the correct expense category for parking will vary depending on the business and the specific circumstances. However, some common expense categories for parking are 'travel', 'transportation', or 'operating expenses'.
Travel Expenses
If parking is incurred while traveling for business purposes, then it would generally be classified as a 'travel expense'. This would typically include expenses such as parking fees at airports or hotels.
Transportation Expenses
If parking is incurred as part of the business's regular transportation expenses, then it would generally be classified as a 'transportation expense'. This would typically include expenses such as parking fees at the business's office or warehouse.
Operating Expenses
If parking is incurred as part of the business's regular operating expenses, then it would generally be classified as an 'operating expense'. This would typically include expenses such as parking fees for company vehicles.
There is no single correct answer to this question, as the appropriate expense category for parking will vary depending on the business and the specific circumstances. However, some common expense categories for parking are 'travel', 'transportation', or 'operating expenses'.
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The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.
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