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We have been placing association memberships, shipping charges, and faxing and telephone (including teleconferencing) expenses in code 45, Supplies and Materials. Is this correct?

April 26, 2017Association Charges expenses faxing memberships placing shipping teleconferencing telephone

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We have been placing association memberships, shipping charges, and faxing and telephone (including teleconferencing) expenses in code 45, Supplies and Materials. Is this correct?

1 Answer

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Memberships, shipping charges, and costs of faxing and telephones should be reported in code 40, Purchased Services.