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Is this expense One-time or Ongoing?

One-time expense = single purchase made in a lump sum, OR in payments over 3 years or less.

Ongoing expense = purchase that recurs indefinitely.


Examples

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Tips
  • This is different than One-time expenses for personal use. Monthly car payments are an Ongoing expense. For a business, the cost of the car is a One-time expense even though it is paid over time.

  • Consider if a one-time expense is likely to become an ongoing expense. For example: if we will purchase phones for everyone as a one-time perk, enter the cost as a one-time expense. But if we anticipate upgrading the phones every year, enter the cost as an ongoing expense.