Accounting Coronavirus Q&A: Should I add a COVID-19 Expense Line?

Question:  I’ve seen recently that business owners are being encouraged to add a COVID-19 expense line to track capital expenditures, time, etc so they have visibility to it in the instance of a government bailout, taxes, etc.

Accounting Team Answer:  That’s a good idea. If they already have a class system set up in QuickBooks (QB) they should create a separate class. If they don’t, they can use one GL code. Or, they can add a department if they have a more sophisticated system than QB.

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