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How to record an expense with only a partial tax deductibility
memdin
Member Posts: 1
In the Netherlands, I am able to claim back as a tax deduction, for example, only 80% of the cost of business meals. If I want the transaction to go through my business bank account and not my personal account, how do I enter this into WAVE.
Please note that this is not the VAT but the actual cost of the meal.
There are other example such as flights, hotels etc where only a part of the cost can be deducted as operating costs for tax purposes.
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I'm wondering about this too! I asked Support and they said that I could create a separate account to keep track of these partial expenses, but that's not really what I'm after.
@CreatrixTiara. The best way to track this in Wave is by doing what was suggested in the support ticket that you currently have (essentially, splitting the expense transaction that was created and categorizing part of it into a specific account so that you can track these total amounts). There isn't a way of tracking this in Wave at the current moment (potentially down the road, but no immediate plans).