Accounting: Expenses

This guide explains how to view, add, and edit expenses in the system. Accurate expense tracking is essential for tax purposes, budgeting, and understanding your company's profitability.

General Tab

The General tab covers the essential details required to create a new expense. These fields establish the foundation of the record.

Required Fields for Accounting

• Regarding: Linking the expense to a specific Client, Vendor, or Project.
• Payment Method: How the expense was paid (dropdown list).
• Expense Amount: The dollar amount of the purchase.
• Expense Date: The day the transaction occurred.
• Memo: A short, human-readable note about the purpose of the expense (e.g., "Client lunch to discuss Q3 goals").
• Billable: Turn this ON if you plan to charge this expense back to a client or customer.
• Paid: Turn this ON if the expense has already been paid (e.g., via a company card or cash).

Description Tab

This tab provides a rich-text editor for detailed notes and context regarding the expense. Use this area when the simple "Memo" field on the General tab isn't enough.

Admin Tab

This tab is dedicated to financial control, allowing you to specify tax, currency, and the necessary Chart of Accounts (COA) codes for proper accounting integration.

• Expense Tax: The amount of sales tax or VAT included in the expense, usually a calculated value.
• Expense Shipping: Any shipping or handling cost associated with the expense.
• Status: The current state of the expense (e.g., Draft, Submitted, Approved, Rejected).
• Regulatory Mapping ID: An optional ID or code required for external regulatory systems or compliance checks.
• Reference ID: A secondary tracking number, perhaps from a vendor invoice or external system.
• Cost Center: The specific department, team, or function responsible for this expense.
• Currency: The currency in which the expense was originally paid (e.g., US Dollar, Euro).
• Language: The primary language associated with the expense documentation.
• Start / End Date: If the expense relates to a period (like a subscription), this defines the service period.
• COA Expense Type: The mandatory Chart of Accounts code for the primary expense (e.g., Meals and entertainment (5340)).
• COA Sales Tax Type: The COA code for the sales tax component.
• COA Shipping Type: The COA code for the shipping component.

Recurrence Tab

This tab is used for scheduling automatic creation of future expense records for predictable, repeating payments like subscriptions, rent, or utilities.

• Recurring : The switch to turn the automatic recurrence feature on or off for this expense.
• Frequency: Defines the interval at which the expense repeats (e.g., Monthly, Weekly, Annually).
• Type: An optional field to specify additional recurrence rules (e.g., "First Tuesday of the Month").
• Next Run Date: The exact date and time the system will create the next expense record.
• Last Run Date: A read-only field showing when the system last automatically created this expense.

Docs Tab

• Description: A brief name or summary for the specific document being uploaded (e.g., "Original Scanned Receipt").
• Category: A drop-down list to classify the type of document (e.g., Invoice, Receipt, Contract, W-9).
• Category (New): Allows you to define and save a new category if the existing list is insufficient.
• Document Date: The date printed on the physical or digital document being uploaded.
• Tags: Keywords used for granular organization and searching (e.g., #IRS-Audit, #Software).
• File(s) (Choose Files): The interface for selecting and uploading the digital file (PDF, JPG, etc.).
• Grids (Sub-tab): A secondary view, likely for linking this expense document to other related records or custom data grids.