In the Advanced section of each expense transaction, there is a drop-down for Expense Type. Among the options listed is one called “Other Expenses”. Other expenses are expenses not directly related to your business and/or non-deductible expenses.
Some examples include:
- Non-deductible Interest expenses (not to be confused with deductible Interest Expenses)
- Tax Penalties
Please consult your bookkeeper if you are unsure whether an expense should be categorized as an Other Expense.