Home Expense How to manage your expenses?

How to manage your expenses?

Last updated on Nov 30, 2024

The Expense Management system streamlines expense recording, tracking, and management within your organization's financial workflow.

Core Workflows

Creating Expenses

Access the expense creation interface through:

  • Navigate to Purchase > Expense tab

  • Click "Add Expense" button in top right corner

  • Complete required information in the form

Required Fields

  • Date: Transaction date for expense record

  • Expense Account: Categorizes the expense type

  • Amount: Total expense value

  • Paid Through: Payment method or account used

Optional Fields

  • Tax: Associated tax amount

  • Vendor: Entity receiving payment

  • Reference#: External tracking number

  • Note: Additional context

  • Customer: Associated client

  • Billable: Toggle for client billing

  • Mark up: Percentage added for billable expenses

Document Management

  • Upload receipts up to 5MB

  • Supported through drag-and-drop or file selection

  • Multiple files allowed per expense

Managing Existing Expenses

Viewing Options

  • List view shows date, account, amount

  • Detailed view displays full expense information

  • Filter and search capabilities for quick access

Available Actions

  • Edit: Modify existing expense details

  • Clone: Create duplicate with same information

  • Delete: Remove expense record

  • Attach: Add supporting documentation

Status Management

Expenses progress through:

  1. Draft: Initial creation state

  2. Submitted: Ready for review

  3. Approved: Validated for payment

  4. Paid: Transaction complete

  5. Rejected: Requires revision

Troubleshooting

Common Issues

  • Missing Required Fields: Ensure all mandatory fields are complete

  • Format Errors: Verify numerical values follow system format

  • Upload Issues: Check file size and format restrictions

  • Save Failures: Confirm network connectivity

Best Practices

  • Document expenses immediately

  • Attach all relevant receipts

  • Use consistent categorization

  • Review entries before submission

  • Maintain accurate customer associations for billable expenses

Advanced Features

  • Batch processing for multiple expenses

  • Custom field configurations

  • Automated tax calculations

  • Expense report generation

  • Audit trail tracking