Entertainment Expenses

Entertainment expensesWe get plenty of questions on the subject of entertainment. Some new business owners get excited by the thought of entertainment but for all the wrong reasons..!

Use the table below to help code entertainment correctly (maybe have an expense code for 100% and another for 50%).  Don’t expect your accountant to spend hours wading through your entries hoping to figure out what each entry is for.  If it is not deductible then the cost should go to the shareholders drawings or current account.

Please note that the rules change. Print yourself a copy of the Entertainment Guide below to check the latest.

IRD Entertainment Guide IR268

Lynley Averis

Lynley is an MYOB Certified Consultant & has been involved in training in New Zealand since 1985. She's written various accounting & MYOB workbooks including co-authoring “Bookkeeping for Dummies”. She has consulted on all versions of MYOB Accounting, Retail and Payroll over the past 18 years and has previously worked for MYOB. She currently consults to NZ businesses on all aspects of business systems - her mission for clients is for them to spend as little time as possible doing accounting!