How do you categorize expenses in advertising and promotions

In this video, we break down the concept of advertising and promotion as it appears in your profit and loss statement or QuickBooks. Learn how to categorize your expenses correctly and why consistency and predictability are key.
💠Defining Advertising and Promotion: Understand what constitutes advertising and promotion expenses, including magazines, postcards, Facebook ads, and vehicle wraps.
💠Consistent Categorization: Learn the importance of placing the same types of expenses in the same category every time for consistency and predictability.
💠Spending Guidelines: Get general guidelines on how much to spend on marketing based on your business stage and industry. Discover the appropriate percentage ranges for new businesses in hyper-growth mode, steady growth businesses, and seasoned businesses.
💠Investing in Existing Clients: Discover why it’s crucial to allocate a portion of your advertising budget to existing clients through gift bags, thank-you cards, service reminder cards, and referral gifts to maintain top-of-mind awareness.
Watch this video to ensure your advertising and promotion expenses are accurately categorized and strategically planned for maximum impact. Boost your business growth by making informed decisions on your marketing spend.