Johnny,
I concur with your approach. While I can understand the goal of putting the fully-loaded cost into training, I have never done it that way in any industry. Couple of issues that would have to be addressed if you combined travel related expenses with training - meals must be separated due to tax deduction limitations (could be done with sub-accounts under training); do you start looking at a similar approach for business development, pre-construction bidding, marketing or safety.
For now we record all travel related items in the travel accounts; before I approve training I also approve the fully loaded cost; and I approve expense reports compared to the approved expense estimate.
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Stephen Reynolds
Eldeco, Inc.
Greenville SC
(864) 277-1520
Original Message:
Sent: 05-18-2016 15:24
From: John Leazer
Subject: GL Expense Account Codes
I am having a difference of opinion and wanted the group to weigh in. Not a big deal, but wanted some input.
When employees travel and stay overnight for training.
I have always put the cost of the training in the Training Expense, the cost of the travel (airfare, etc) in the Travel Expense.
The cost of the hotel in the Lodging Expense.
One of my cohorts wants all of the above costs to go into Training Expense.
What are your thoughts ?
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John Leazer
Waldrop, Inc.
Spartanburg SC
(864) 578-7252
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