Subscription vs Membership Fee

LeaningTower
LeaningTower Quicken Windows Subscription Member ✭✭
edited March 8 in Registers & Transactions (Windows)

How do you categorize annual (or monthly/quarterly etc) expenses for things such as: Amazon Prime, Box stores (BJs, Sam's Club, Costco), AAA?

I realize that any category is fine, as long as I understand how it it being used in my personal files and reports, but I'm curious how and why other people choose one over the other and if there is a generally accepted accounting definition for either or both?

And how about credit card fees, which the banks usually identify as "annual membership fee?" I categorize those as Bank Fees. How about you?

Comments

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    I've got an Expense category "Reading & Memberships" which also includes association memberships.

    re: card fees, I usually use the category that's the primary purpose of that card. So my Kroger Mastercard annual fee is charged to Groceries, just as the "Points Redeemed" is credited to Groceries.

    The annual fee on my Marriott, Southwest Airlines and American Airlines cards are charged to Vacation.

    I reserve the "Bank Fee" category for charges for actual bank services.

    But, those are my preferences, YMMV.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

This discussion has been closed.

Categories