QB Issue Resolution:

You don’t want to make a specific account for everything. The best reference for your Chart of Accounts is the tax form this entity files. The IRS doesn’t have a line item for “Christmas Party” or “Summer Cookout.”

“travel and lodging costs for retreats are permissible”

Then you will post as Travel Cost, and Lodging Cost, specifically. See? You already have this.

“just make sure to keep good notes and records to substantiate the business discussions, as well as corporate resolutions, like approving budget for the year”

In other words, it cannot be Recreational and Personal, and then we try to put it as Business. You can Split it and allocate it, though. Like this: 7 nights, 2 days were all business meetings = split between business and personal.

Some of this will fall into Meals and Entertainment 50% reportable. Some might be All reportable, such as an all-day meeting and you bring in Pizza = Supplies, not Meals 50% deductible.

A guest speaker is a Professional Fee, no differently than if they come present to the office staff in the office conference room.

Etc.

Just break it out into what it is, not where it happened. That is the point the IRS wants to see you can substantiate = really was business.

And “where” you go matters. Read the tax rules or ask your CPA for further guidance.

Resolution for Issue 'How do we categorize an annual retreat – basically, what account should we create in our chart of accounts for this to be allocated to?' available: Yes (Solved).
Source: Intuit Community forum.

How do we categorize an annual retreat – basically, what account should we create in our chart of accounts for this to be allocated to?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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