Expense Management
Expense Categories
Operational Expenses:
Utilities: Electricity, water, internet, phone
Rent: Monthly rent for premises
Maintenance/Repairs: Equipment repairs, facility maintenance
Training/Development: Staff training, courses, certifications
Insurance: Business insurance premiums
Staff-Related:
Employee Bonus/Incentives: Bonuses, commissions, rewards
Financial Transactions:
Cash Settlement: Cash-based payments or settlements
Transfer Settlement: Bank transfers or digital settlements
Sale Refund: Refunds given to customers
Miscellaneous:
Misc: Any expense not fitting other categories
Best Practices
When Adding Expenses:
Categorize Correctly: Choose the most accurate category
Add Clear Descriptions: Be specific (e.g., "January electricity bill" not just "Electricity")
Attach Invoices: Always attach receipts when possible
Enter Accurate Amounts: Double-check before saving
Select Correct Date: Match the expense date, not today's date
When Viewing Expenses:
Use Filters: Narrow down to find specific expenses
Check Totals: Monitor spending by category
Export Regularly: Export monthly for accounting
Review Patterns: Look for recurring expenses
Payment Methods
The payment methods shown depend on your business setup. Common options include:
Cash
Bank Transfer
Credit Card
Debit Card
Mobile Payment
Select the method actually used for the expense.