Office: Expenses

What is an Expense?

An expense is a cost incurred for the goods, services and/or resources.  This could be business expenses or expenses incurred as a result of providing goods, services and/or resources to a Client. 

This feature is designed to handle all of your expense-related needs regardless of whether they are one-time costs or recurring payments and It will ensure that your financial tracking is seamless and organized. 

Expense management helps you streamline your expense tracking including giving you the ability to link costs to specific Clients or Projects and ensuring accurate Invoices. When you add Expenses to a specific Client or Project you have the option to mark the expense as  “billable,” and easily include the expense in the Client's Invoice for reimbursement.

You can also pre-create your Expense Items and Expense Merchants in the Office Settings.

CLICK HERE to learn about Expense Items and Expenses Merchants.

How do I create an Expense?

To get started, navigate to  Office > Expenses. Click the +Add Expense button and select 'One Time' or 'Recurring' depending on the expense type.

Fill out the fields to produce your Expense.  You also have the ability to upload a invoice and/or other supporting documents.

Title: This is the name of the Expense.

Expense Date: Choose the date you paid for the Expense.

Assign Target: Choose a Client or Prospect that the Expense relates to (if required). 

If a Client or Prospect is chosen you can then you have the option to toggle the button to make it billable.

Projects: If a Client or Prospect is chosen you will also have the ability to add the Project from the Project Dropdown list.

Category: Select a category if required.

Items: The goods, services and/or resources that incurred an expense. These can all be pre-created by going to Office>Settings>Expense Items or you can create a new expense by clicking the + Add New Expense Item button.

Discounts: You can add a Discount if one was applied to the Expense Total. Alternatively, you can add a Discount to the individual Expense item in the Summary screen. 

Taxes: Selecting a Tax in the Taxes box will add the tax for all Expense Item totals.  Alternatively or you can select a Tax for each individual item in the Summary screen. 

A Summary module will update in real-time as you make your selections. You can make manual adjustments here.

You can use the icon shown above to drag and drop into your preferred order.  Additionally you can customize the picture, name and description for each Item.

Items: Show as individual line items with a barcode icon as shown above 

Discounts and Taxes: Show with the sale ticket icon.

If you apply Discounts and Tax to individual line items, it will show in the respective columns as shown above.

The Summary includes a detailed breakdown of all variables at play in the Expense and is then followed with the Totals cost.

Subtotal: The total cost of all Expense items.

Tax: The Tax applied to the Expense total.

Discount: The Discount applied to the Expense total.

Currency: Select your currency from the dropdown list.

Reference: A reference can be added if required i.e. invoice number etc.

Internal Notes: This information is for internal use only.  Your Client/Prospect will never see this information in their Portal or on their Estimate or Invoice.

Once created, your Expense will show in the Expense list.  You can click the options menu on the expense line to view, edit duplicate, convert to recurring or delete the expense.

If you want to convert your One-Time Expense to Recurring, click the options menu (three dots) and then add the details in the flyout menu.