Overview

This tutorial explains the category account types, default category accounts, and default categories available in StudioCloud. The Category Accounts and categories are customizable in StudioCloud but the Category Account Types are not.

Income 

• Description: Any income that the company receives.
• Category Account Type: Business Income
• Description: This is the income generated from the daily operation of the business.
• Category Accounts: Business Income
• Categories:
• Business Income
• Category Account Type: Interest Income
• Description:This is any interest generated from the businesses financial investments.
• Category Accounts: Interest Income
• Categories:
• Category Account Type: Other Income
• Description: This is any other income that the business receives.
• Category Accounts: Other Income
• Categories:

Expense

• Description: Any expenses associating with the company
• Category Account Type: Cost of Goods Sold
• Description: This category account is the direct costs associated with making a product for a customer.
• Categories:
• Album Expense
• Frame Expense
• Lab Expense
• Credit Card Charges
• Freight
• Contract Labor
• Production Employee Payroll
• Production Employee Payroll Taxes
• Category Account Type: Business Expense
• Category Account:  Advertising
  
• Description: This category account is the expenses that are marketing your products and services.
• Categories:
• Advertising
• Donations
• Entertainment
• Marketing - General
• Display Rental/Expense
• Postage - Promotion
• Printing - Promotion
• Referrals
• Website / Hosting Expense
• Category Account:  Employee Expense
• Description: this category account is for all expenses that are incurred by hiring and maintaining employees.
• Categories:
• Employee Insurance
• Employee Salary
• Employee Payroll Taxes Paid
• Employee Workers Comp
• Category Account:  Owner’s Salary
  
• Description: This category account is all expenses that are related to a owner’s compensation
• Categories:
• Distributions/Draws
• Owners Salary
• Owners Payroll Taxes
• Owners Workers Comp
• Owners Personal Donations
• Owners Retirement Contributions
• Owners Personal Taxes
• Category Account:  Owner’s Health Insurance
• Description: This category account is all expenses that are related to a owner’s health insurance
  
• Categories:
• Health Insurance
• Life Insurance
• Category Account:  Insurance
• Description:This category account is for expenses that are used to keep track of expenses for insurance policies which are strictly associated with businessassets and upkeep.
• Categories:
• Liability Insurance
• Personal Property Insurance
• Building Insurance
• Category Account:  Maintenance
  
• Description: This category account is for expenses incurred in maintaining your business.
• Categories:
• Cleaning
• Building/Studio Repairs
• Landscaping
• Alarm System
• Trash Removal
• Pest Control
• Category Account:  Rent
  
• Description: This category account is for expenses associated with renting a business location or space.
  
• Categories:
• Studio Rent
• Storage
• Category Account:  Utilities
  
• Description: This category account is for expenses associated with the operation of your business location.
  
• Categories:
• Gas (Utilities)
• Electric
• Water/Sewer
• Category Account:  Property Tax
  
• Description: This category account is for expenses associated with owning yourbusiness space.
• Categories:
• Real Estate Taxes
• Category Account:  Accounting/Legal
• Description: This category account is for expenses associated with contracting professional help in accounting, bookkeeping, or legal matters.
• Categories:
• Accounting Fees
• Legal Fees
• Bookkeeping Fees
• Payroll Fees
• Category Account:  Auto Expense
  
• Description: This category account is for expenses associated with driving to and from the workplace.
  
• Categories:
• Gas (Auto)
• Auto Repairs
• Auto Insurance
• Mileage Reimbursements
• Category Account:  Education Expense
• Description: This category account is for expenses associated with education
• Categories:
• Professional Dues and Memberships
• Education Fees and Costs
• Education Travel Costs
• Education Meals
• Category Account:  Interest Expense
• Description: This category account is for expenses associated with the interest applied to credit.
• Category Accounts
• Credit Card Interest
• Line of Credit Interest
• Category Account:  Office Expense
  
• Description: This category account  is for expenses associated with expenses that occur in the office or studio.
  
• Categories:
• Office Supplies
• Computer Expenses
• Office Meals
• Software Fees
• Category Account:  Postage
  
• Description: This category account  is for expenses associated with general postage. This does not include postage used for marketing or advertising activities.
  
• Categories:
• General Postage
• Category Account:  Props/Accessories
  
• Description: This category account is for expenses associated with minor equipment or accessory purchases.
  
• Categories:
• Backgrounds
• Props
• Camera Equipment and Accessories
• Category Account:  Telephone
  
• Description: This category account is for expenses associated with communication.
  
• Categories:
• Studio Phone
• Cell Phone
• Internet
• Category Account:  Capital Expenditures
• Description: This category account is for expenses associated with the purchase of major equipment that are essential to the business.
• Categories:
• Camera Equipment
• Computer Equipment
• Office Equipment
• Category Account:  Taxes & Licenses
  
• Description: this category account is for expenses associated with government (federal, state/province, and local) taxes as well as license fees.
  
• Categories:
• Personal Property
• Local Licenses and Fees
• State Corporate Income Taxes
• Category Account:  Other Expense
  
• Description: this category account is for expenses associated with government (federal, state/province, and local) taxes as well as license fees.
  
• Categories:
• Personal Property
• Local Licenses and Fees
• State Corporate Income Taxes