How to properly name expense accounts (fees and fines, resp.) with public bodies in the context of personal (non-corporate) bookkeeping?

Of course I can just make up a random names, but if standard names for such accounts exist I'd be happy to know.

1 Answer 1


When it comes to personal accounting, there need only be two books: tax & financial.

The tax books should be kept according to law for the lowest legal risk-adjusted & discounted liability.

The financial books should be kept as honestly as possible to reflect the true condition, in this case an individual or household.

Here, more accurate account names are helpful. If a government fee is simply called "fee" regardless of if it came from traffic or the home, and there are multiple types then piecing together a detailed map of flows becomes difficult.

Fees & fines should be booked as expenses on the income statement and negative operating cash flows. They will debit from assets thus the equity accounts.

The nomenclature can be anything that helps the reader.

  • Great answer, sorry for not specifying my question more clearly: updated it to reflect I'm after personal bookkeeping, not corporate accounting.
    – shoyu
    Mar 9, 2014 at 19:45
  • @shoyu Lol, wow, I took that in the WAY wrong direction.
    – user11865
    Mar 9, 2014 at 19:56
  • Suggest you remove the irrelevant part of your answer. Mar 10, 2014 at 0:21
  • @ChrisW.Rea But I worked so hard! ;))
    – user11865
    Mar 10, 2014 at 0:52

Not the answer you're looking for? Browse other questions tagged .